Tessera
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Tessera enabled shared ownership and governance of NFTs; its Escher project operated a digital-art marketplace.
02 / Tessera FAILURE REASONS
Failure reasons
Co-founder Andy Chorlian said the profitability targets for Escher did not justify the time and resources needed to reach that scale. Reviewing the company structure, finances and possible market scenarios led the team to wind down both projects while it could do so responsibly.
03 / EVENT HISTORY
Events in the structured record
- Both projects set to wind down
On 12 May the co-founder announced that Tessera and Escher would wind down over the following weeks.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Escher required scale to achieve profitability
- 02
Time and resource requirements outweighed the viable return
- 03
Team chose an orderly wind-down of both projects