The company Fractional, which lets people sell parts of their NFTs, announced on Wednesday that it will change its name to Tessera. The move comes at the same time as a new round of funding led by the big crypto company Paradigm.

Andy Chorlian, the founder and CEO of Tessera, said that the $20 million investment will be used to add people to the company’s 24-person team. These people will work in marketing, customer service, and development, among other things.

The Tessera team will also use the extra money to put more effort into developing a new protocol that will turn the digital pieces of a person’s NFT into NFTs instead of ERC-20 digital tokens like USDT or USDC.

Chorlian said that fractional NFTs will be like prints of original works of art and will make trading easier for people who are familiar with NFTs but not digital tokens.

“It was a really, really big barrier for a lot of our users, who are so used to trading NFTs on OpenSea or any of these other marketplaces, and that level of education and trying to explain how all this works was just too much for a lot of people,” Chorlian told Fortune.

Fractionalizing an NFT is seen by many as a way to make money. On its website, Tessera says that this is a good way to get liquidity for an NFT without having to sell it outright and to get fees from people who buy fractions of your NFT.

Chorlian said that with the new money, Tessera will change its name and brand to reflect its new goals, which include moving away from financialization and putting more emphasis on community and shared ownership. The word “tessera” means “tile” or “something else used to make a mosaic” in English.

“The most interesting thing to us about this in general is figuring out how to connect with interesting people,” Chorlian said. “How can we give artists and creators more power?”

Chorlian and Nejc Krajnik started Tessera in 2021. Before that, Chorlian graduated from Villanova University in 2016 with a degree in computer science and worked on smart contracts at places like MakerDAO, a decentralized autonomous organization that makes the DAI stablecoin and focuses on autonomous crypto loans. Chorlian said that since the company started, $2 billion worth of trades have been made through it, and about 70,000 different people hold fractional NFTs.

Tessera had already raised $7.9 million in a round led by Paradigm last August. The company said it would use the money to hire more business development and legal staff.

Chorlian said that in addition to Paradigm, the round includes 50 angel investors, all of whom have a lot of knowledge about NFTs and decentralized finance and can help the company by giving feedback and advice. Focus Labs, Uniswap Labs Ventures, E Girl Capital, and Yunt Capital were some of the investors who took part in the round.

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