FPv2 launched in October 2024 with the goal of becoming the next-generation NFT marketplace, utilizing hybrid technology to enhance NFT liquidity. Reservoir has been an essential part of our infrastructure, enabling us to aggregate listings from traditional marketplaces and provide the largest selection of listings for all supported collections. Since Reservoir announced the sunset of their service, we have been exploring new opportunities in the NFT space. One of our most significant findings is that corporate liquidity has been increasingly interested in the NFT sector since early this year. Over the past few months, we have successfully facilitated strategic long-term partnerships between pioneering funds and FP's liquidity providers. This success has initiated an internal transition, positioning us to become one of the first 2B NFT service providers in the market. To accelerate this shift, we onboarded a new management team in May to reallocate assets between our 2C platform (FPv2) and our 2B services. Resource allocation will be determined by trading volume metrics, with lower-volume collections potentially no longer accepting new deposits. We have communicated these changes to all our liquidity partners, who have committed to maintaining minimum liquidity requirements throughout our transition to the new business model.
