Tegro, an NFT-20 Exchange co-founded by Siddharth Menon, former co-founder of crypto exchange WazirX, and Ashish Rawat, founder of fitness startup OGA Fit, has successfully raised seed funding at a valuation of $100 million. The funding round was led by Polygon Ventures, along with participation from other private investors.

Tegro’s exchange facilitates bulk trading of non-fungible tokens (NFTs) across Ethereum, Polygon, and other EVM-compatible chains. Users can engage in buying, selling, and trading NFTs on the platform for as low as $0.02. The exchange operates on the decentralised NFT-20 protocol, enabling users to establish and manage decentralised markets for NFTs. These markets provide liquidity services, pricing, and order matching, empowering users to monitor the value of their NFT portfolios.

Ashish Rawat, co-founder and chief operating officer (COO) at Tegro, expressed the company’s ambitious mission, stating, “Our ultimate mission is to onboard 100 million users into the world of NFT trading through Tegro exchange. Tegro envisions a future where NFTs are easily tradable by traders worldwide.”

Polygon Ventures, impressed by Tegro’s capabilities, aims to enhance liquidity across 15 cross-chain NFT markets. Shreyansh Singh, head of investments at Polygon Ventures, remarked, “By expanding liquidity between 15 cross-chain NFT markets, Tegro offers NFT traders the same level of convenience and simplicity as fungible tokens. We’re thrilled to back Tegro and believe that it will revolutionize the global NFT market by making it as fast, cost-efficient, and seamless as possible.”

During its initial month of operation, Tegro witnessed a significant surge in trading volumes for notable gaming projects such as CropBytes, MetaStar Strikers, and MetaSaga Warriors, with some experiencing a 100x increase. Additionally, Tegro achieved daily trading volumes surpassing $75,000.

Looking ahead, Tegro has plans to announce substantial partnerships and launch a massive airdrop campaign for the community in the coming months. The company also expressed its commitment to exploring innovative tools and technologies in the NFT trading space, aiming to provide traders with cutting-edge solutions.