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What You Need To Know By Benzinga

Public Acquires Otis To Bring Fractional NFT Ownership To Users: What You Need To Know
Written by Publishing Team

© Reuters. Public Acquires Otis To Bring Fractional NFT Ownership To Users: What You Need To Know

An investing platform offering stocks, funds and crypto is adding fractional investing and non-fungible tokens access to users with an acquisition announced Wednesday.

What Happened: Public announced it is acquiring fractional investing company Otis.

“We believe a modern, diversified portfolio is made up of more than just stocks, funds and crypto – it’s also made of cultural assets,” Public co-CEO Leif Abraham said.

The acquisition is said to help “empower fractional investing in NFTs, art and collectibles.”

The deal will make public the first platform in the world offering investment options for stocks, funds, crypto and fractional assets in one place.

“That means NFTs, art, collectibles, real estate, crypto, funds, stocks and more – all in one place.”

Related Link: You Can Invest In Grimes’ NFT For As Little As $10 With Otis

Why It’s Important: Public has over 3 million users who are able to invest in stocks, funds and crypto. Those users will now have access to the growing number of offerings on the Otis platform.

Public launched fractional investing in stocks in 2019 and added crypto investing to the platform in 2021.

Otis is one of the first fractional investing platforms to offer exposure to non-fungible tokens. The platform has offered the ability to buy shares of Banksy paintingsm, game worn Michael Jordan sneakers, LeBron James rookie cards and more.

The platform will give users the ability to diversify their portfolio with alternative investments.

© 2022 Benzinga does not provide investment advice. All rights reserved.

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