With over $20 billion worth of NFT assets currently residing on Ethereum and Solana, liquidity and high asset productivity will be critical to the growth of the NFT market as NFT use cases expand beyond collectibles.

For homogeneous tokens, the DeFi ecosystem has solved similar problems through innovations in exchanges, lending, and derivatives, but due to the non-standard nature of NFT and the complexity of expanding financial infrastructure, these financial innovations have not yet fully Penetrate into the NFT ecosystem. The value of tens of billions of NFT assets is isolated in the wallet, and the blue ocean market of NFT financialization needs to be further developed.

On December 16, the NFT financialization platform based on the Solana blockchainBridgesplitAnnounced the completion of a $4.25 million seed round of financing, led by CoinFund and Jump Capital, with participation from Anthony Pompliano, Packy McCormick, Joe Montana, Solana Labs, Coinbase Ventures, and Rucker Park Capital. Funds raised will be used to build out engineering and community teams, and to advance product development.

Bridgesplit is an NFT yielding platform built on Solana. Bridgesplit aims to solve the problem of low liquidity and inefficient capital allocation of NFT by providing a scalable infrastructure layer to establish a connection between NFT and DeFi. Its core products support NFT fragmentation, index funds, financial derivatives and NFT mortgage markets.

Currently, the protocol provides 4 core functions, namely NFT Fragmentation, NFT Pool, NFT Derivatives and Scalable NFT Collateralized Loans. More functions will be launched in the future. Together, these features create a more liquid NFT market. NFT fragmentation is currently available on the Bridgesplit Devnet.

Bridgesplit's Devnet has been live for a month and now has over 1,000 NFT deposits and 500 unique users.

In early December, Bridgesplit launched its mainnet Alpha version, featuring the first fragmented NFT assets, the MonkeDAO mascot and DAO Jones, available only to the most active members of the Bridgesplit and MonkeDAO communities.

Bridgesplit will launch in Open Alpha next month with an undisclosed launch partner. Its beta version will also be released next month, only open to the most engaged community members, and it includes mortgage loans, automatic index funds and NFT-backed perpetual index fund functions.

By coupling NFT and DeFi, Bridgesplit enhances capital efficiency in the NFT ecosystem, introducing new capital, users, and utility to NFT. Bridgesplit accelerates NFT price discovery and liquidity through financial mechanisms, promotes the construction and participation of new NFT experiences, and brings a new utility paradigm to NFT.

Bridgesplit investors and partners include Web 2 founders Harry Hurst (SaaS startup Pipe), Jordi Hays (enterprise service platform Party Round) and Jeff Maggioncalda (MOOC platform Coursera), Layer 1 protocol founders Joey Santoro, Brian Flynn and Web 3 advocates Anthony Pompliano, Packy McCormick, Coinbase Ventures and a41 Ventures, among others. "From in-game assets to traditional financial markets with on-chain equivalents as NFTs, the path to the next phase of Web3 is paved by integrating off-chain economies," said Luke Truitt, co-founder of Bridgesplit, which defines itself as a cross- Chain NFT's financial infrastructure, providing the required composability and liquidity for the next stage of Web 3.