NEW YORK, NY, April 26, 2023 (GLOBE NEWSWIRE) — Tribe3, a social and gamified decentralized NFT futures exchange, has raised USD 2.1 million from leading Web3 VCs and strategic investors to power the next phase of development, including launching public beta (app.tribe3.xyz) on May 3, 2023, accelerating growth and scaling up operations.
Investors that participated in the funding rounds include Spartan Capital, Newman Capital, Infinity Ventures Crypto, Modular Capital, Cogient Ventures, Blockbuilders, Founderheads, Lapin Digital, Blockhype and other angel investors.
Tribe3 is a decentralized NFT futures exchange with social and gamification elements. Users can trade perpetual NFT futures with leverage and low fees at any amount, participate in tribe battles against others in the community, and earn in-game items based on trading behavior to build personal NFT avatars. The protocol’s mission is to become the popular NFT derivatives exchange that provides users with an engaging social trading experience.
The public beta version of Tribe3’s trading platform will go live on May 3, 2023 on Arbitrum. During the first phase of the launch, the protocol will support 4 NFT collections, including Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki and Cryptopunks. Tribe3 will later expand to include more collections in the coming months.
According to Kelvin Koh, co-founder, partner and CIO of Spartan Capital, “We are excited to work with Tribe3 to build out one of the leading trading venues for NFT derivatives. We believe that NFT is still in its nascent stage of development; and with web3 gaming and metaverse bringing a new wave of adoption, the importance of NFT futures and derivatives will become an indispensable part of the entire ecosystem for holders and traders to hedge and speculate.We believe the tribe3 team with the leadership of Leo has what needed to dominate the market.”
Adrian Lai, founder and managing partner of Newman Capital, said “The NFT trading landscape has been constantly changing, but it has lacked real innovation. Looking back at the history of token trading, it started with the spot market, then gradually the derivatives market took the spotlight, and it has been what traders have focused on even today.We believe NFT will follow the same path and NFT derivatives trading could be something to kick-start the next wave of growth for the wider NFT market and we strongly believe that Tribe3 will be a winner in this area. We are proud to support a team that brings strong execution skills and the drive to succeed.”
James Ho, co-founder of Modular Capital said: “We are excited to partner with Tribe3 as they lead the way in making futures trading for NFTs and digital collectibles a reality. Founder Leo and his team bring a unique combination of NFT expertise market structure, risk management and dedication to their community, which positions them to succeed in this emerging market opportunity. We look forward to seeing their efforts play out.”
For the latest news and developments, follow the official Tribe3 Twitter account at and check out the beta site app.tribe3.xyz
Social links
Discord: discord.gg/tribe3
Telegram:
Gitbook:
Media contact
Brand: Tribe3
Email: [email protected]
Website:
SOURCE: Tribe 3
