Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin bulls are confronted with Make-Or-Break-moment at $ 106,500 Resistance details

2025-05-18

Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

2025-05-18

XRP price that runs the risk of crashing 50%, here is why

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18

    Interview with Nieuwe Lukso Coo

    2025-05-18

    B2 Network brings AI to Bitcoin with DSN-AI Rollup Protocol

    2025-05-18

    The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

    2025-05-17
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17

    Complating digital assets win the long game in Crypto

    2025-05-17

    US senators make potential progress on Stablecoin bill in the midst of partisan negotiations: report

    2025-05-16
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»Tessera and Escher will cease all activities
Tessera and Escher will cease all activities
NFT

Tessera and Escher will cease all activities

2023-05-12No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

In a sudden announcement today, Andy Chorlian, co-founder and CEO of the Fractional Token Company, revealed that Web3 platforms Tessera and Escher would begin slowly tapering operations in the near future.

Launched in 2021 under the name Fractional Art, Tessera has made a name for itself as a Web3 service that specializes in the fractional ownership of NFTs, allowing fans to own a piece of blue-chip NFTs like Bored Apes or CryptoPunks. The platform also supports Nounlets, an experimental NFT initiative that enables collective ownership of a single noun. Launched in March 2023, Escher is designed as a marketplace where users can not only see all of an artist’s works in one place, but also discover editions of NFTs for visual arts.

The end of an era

In a heartfelt message, Chorlian expressed his gratitude to all who supported the company and pledged to ensure that the winding down process was conducted responsibly. He also stressed that the team took this step while in the financial position to do so smoothly, with the aim of focusing on supporting their employees through the transition.

After much deliberation, we have made the incredibly difficult decision to wind down all of our operations @tessera And @escherxyz the coming weeks.

—andy (@andy8052) May 12, 2023

“We spent a long time carefully analyzing possible market scenarios, our corporate structure and our financial situation and decided this was the best choice for our team and our investors,” said Chorlian, a well-known Web3 figure and co-host of the We do a little podcast, wrote in the Twitter announcement. “When we really dug into the economic model for Escher, we saw that the goals we had to meet to become profitable – compared to the time and resource costs to scale there – just weren’t right or didn’t make good business sense. “

See also  Sportswear and luxury brands are embracing Web3 innovation

The announcement came as a shock to many in the NFT community, who expressed their gratitude and compassion under Chorlian’s tweet. Fractional Art was seen as a major innovation by the wider Web3 community when it first launched.

Disappointed to hear this as I know you were trying to fill a current void in our space. Nevertheless, I wish you and your team the best and I know it is a difficult decision for someone with their heart in the right place. 🫂

— Guido™️ (@GuidoDisalle) May 12, 2023

sorry to hear this, but appreciate your and the team’s contributions to the space

something tells me this legacy isn’t done yet 🫡

— DCinvestor (@iamDCinvestor) May 12, 2023

Fractional Art (Tessera) quickly gained a reputation for innovation after its launch, allowing multiple individuals to collectively own one NFT. As of August 2022, more than 70,000 users collectively owned more than 6,500 NFTs on the platform, including a zombie CryptoPunk worth $3.46 million at the time of purchase. Tessera also raised money for social causes, including an $8 million fundraiser for Ukraine, and served as the birthplace for decentralized autonomous organizations (DAOs) such as Doge NFT and FreeRossDAO.

Mourning Escher

The news is especially bitter for fans of Chorlian’s work who were looking forward to Escher’s future. In April, Chorlian intervened on Twitter shares his vision for the platform, building a Web3 destination that would serve as an aggregator of the entirety of an artist’s work. Starting with Editions, an NFT drop mechanism that gained huge popularity by the end of 2022, the platform acted as a one-stop shop for all of a participating artist’s work. The platform featured work from the likes of Dave Krugman, Summer Wagner, Postwook, Alpha Centauri Kid, Bryan Brinkman, and more.

We hope to make showrooms the ultimate place to discover, view and collect an artist’s entire work portfolio

Over time, Escher will allow artists to express themselves easily and creatively through full aggregation, showroom customization, and some fun tools.

—andy (@andy8052) April 21, 2023

In Chorlian’s winding down announcement, he stressed that he is not going anywhere, assuring his followers that he will stay in space and keep building during what is increasingly seen as the coldest crypto winter in years.

See also  The US Treasury Department is targeting crypto mixers with new tools to combat illegal crypto activities

“I’ve thought a lot about all my mistakes over the years as the first founder,” he said, “and will share those thoughts at another time.”



Source link

activities cease Escher Tessera
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The most popular collections of the moment on blockchain

2025-05-18

Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

2025-05-17

Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

2025-05-16

Founder wallet emptied while he leaves

2025-05-15
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Bitcoin Rainbow Chart Reveals October Rally Could Spark a Bull Run – Full Details

2024-10-09

How companies are pumping up your Bitcoin bags

2024-07-02

Bitcoin short -term holders are loss – will the malaise continue?

2025-03-02
Editors Picks

Solana (SOL) Price Prediction 2024 2025 2026 2027

2024-02-07

Super Dapp Showdown season announced one winners

2025-04-01

Gensler ignored digital assets in congressional testimony before grilling on crypto for four hours

2024-09-25

XRP price drops before they rise: bulls take the lead in a dramatic rebound

2025-01-28

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin bulls are confronted with Make-Or-Break-moment at $ 106,500 Resistance details

Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

XRP price that runs the risk of crashing 50%, here is why

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,647.561.41%
  • ethereumEthereum(ETH)$2,470.49-0.47%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.391.86%
  • binancecoinBNB(BNB)$645.120.48%
  • solanaSolana(SOL)$170.582.21%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2289305.95%
  • cardanoCardano(ADA)$0.750.16%
  • tronTRON(TRX)$0.266014-2.09%
  • suiSui(SUI)$3.80-0.42%
  • chainlinkChainlink(LINK)$15.671.64%
  • avalanche-2Avalanche(AVAX)$22.640.53%
  • stellarStellar(XLM)$0.2891310.66%
  • hyperliquidHyperliquid(HYPE)$26.250.07%
  • shiba-inuShiba Inu(SHIB)$0.0000153.13%
  • hedera-hashgraphHedera(HBAR)$0.1928941.33%
  • unus-sed-leoUNUS SED LEO(LEO)$8.73-3.21%
  • bitcoin-cashBitcoin Cash(BCH)$399.851.64%
  • the-open-networkToncoin(TON)$3.131.56%
  • litecoinLitecoin(LTC)$99.221.53%
  • polkadotPolkadot(DOT)$4.700.80%
  • moneroMonero(XMR)$339.601.58%
  • bitget-tokenBitget Token(BGB)$5.174.32%
  • pepePepe(PEPE)$0.0000139.47%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.737.63%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$6.013.88%
  • bittensorBittensor(TAO)$421.28-0.58%
  • aaveAave(AAVE)$232.503.82%
  • nearNEAR Protocol(NEAR)$2.782.30%
  • aptosAptos(APT)$5.11-0.17%
  • okbOKB(OKB)$53.10-0.14%
  • ondo-financeOndo(ONDO)$0.942.38%
  • kaspaKaspa(KAS)$0.111755-0.83%
  • internet-computerInternet Computer(ICP)$5.241.41%
  • ethereum-classicEthereum Classic(ETC)$18.380.59%
  • gatechain-tokenGateToken(GT)$21.690.71%
  • crypto-com-chainCronos(CRO)$0.0986761.11%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.071.57%
  • mantleMantle(MNT)$0.731.00%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2353491.01%
  • vechainVeChain(VET)$0.0282341.64%
  • render-tokenRender(RENDER)$4.611.31%
  • ethenaEthena(ENA)$0.3822076.69%
  • usd1World Liberty Financial USD(USD1)$1.000.02%
  • algorandAlgorand(ALGO)$0.2213122.47%
  • filecoinFilecoin(FIL)$2.851.90%
  • cosmosCosmos(ATOM)$4.862.27%
  • bitcoinBitcoin(BTC)$104,647.561.41%
  • ethereumEthereum(ETH)$2,470.49-0.47%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.391.86%
  • binancecoinBNB(BNB)$645.120.48%
  • solanaSolana(SOL)$170.582.21%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2289305.95%
  • cardanoCardano(ADA)$0.750.16%
  • tronTRON(TRX)$0.266014-2.09%
  • suiSui(SUI)$3.80-0.42%
  • chainlinkChainlink(LINK)$15.671.64%
  • avalanche-2Avalanche(AVAX)$22.640.53%
  • stellarStellar(XLM)$0.2891310.66%
  • hyperliquidHyperliquid(HYPE)$26.250.07%
  • shiba-inuShiba Inu(SHIB)$0.0000153.13%
  • hedera-hashgraphHedera(HBAR)$0.1928941.33%
  • unus-sed-leoUNUS SED LEO(LEO)$8.73-3.21%
  • bitcoin-cashBitcoin Cash(BCH)$399.851.64%
  • the-open-networkToncoin(TON)$3.131.56%
  • litecoinLitecoin(LTC)$99.221.53%
  • polkadotPolkadot(DOT)$4.700.80%
  • moneroMonero(XMR)$339.601.58%
  • bitget-tokenBitget Token(BGB)$5.174.32%
  • pepePepe(PEPE)$0.0000139.47%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.737.63%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$6.013.88%
  • bittensorBittensor(TAO)$421.28-0.58%
  • aaveAave(AAVE)$232.503.82%
  • nearNEAR Protocol(NEAR)$2.782.30%
  • aptosAptos(APT)$5.11-0.17%
  • okbOKB(OKB)$53.10-0.14%
  • ondo-financeOndo(ONDO)$0.942.38%
  • kaspaKaspa(KAS)$0.111755-0.83%
  • internet-computerInternet Computer(ICP)$5.241.41%
  • ethereum-classicEthereum Classic(ETC)$18.380.59%
  • gatechain-tokenGateToken(GT)$21.690.71%
  • crypto-com-chainCronos(CRO)$0.0986761.11%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.071.57%
  • mantleMantle(MNT)$0.731.00%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2353491.01%
  • vechainVeChain(VET)$0.0282341.64%
  • render-tokenRender(RENDER)$4.611.31%
  • ethenaEthena(ENA)$0.3822076.69%
  • usd1World Liberty Financial USD(USD1)$1.000.02%
  • algorandAlgorand(ALGO)$0.2213122.47%
  • filecoinFilecoin(FIL)$2.851.90%
  • cosmosCosmos(ATOM)$4.862.27%