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NFEX Raises $3M Seed Round to Build NFT Derivatives DEX – Press Release Bitcoin News
press release
PRESS RELEASE. NFEX has completed a $3 million seed round led by ABCDE Capital and including investments from other well-known institutions, including Amber Group and Firestone Ventures. NFEX strives to build the best NFT derivatives market, creating new opportunities to attract greater liquidity to the NFT market.
What is NFEX?
NFEX is a decentralized derivatives exchange that offers perpetual swaps across popular blue chip NFTs and other cryptoassets. NFEX extends limits and increases liquidity compared to traditional NFT marketplaces, offering leverage and long/short trading opportunities. Users can take positions in NFTs at low entry costs, speculate on future prices in either direction or short NFTs without holding. This opens up a variety of trading strategies for NFT traders, including hedging, speculation and arbitrage.
BMANcommented the co-founder and GP at ABCDE Capital in an earlier interview, expressing concern over the lack of liquidity in 99.99% of the existing NFT projects and his confidence in innovative products like NFEX to bring reform to this industry.
“NFEx’s vision is to build the liquidity center for the NFT industry. The founders of the team have extensive experience in building exchanges and providing liquidity to new asset classes. We believe they are the most capable candidates for this product.”
The public launch of NFEX is around the corner. Please follow our twitter for the latest updates.
About ABCDE Capital:
ABCDE is a 400mm fund investing in web3 builders co-founded by Huobi co-founder You Jun and former Internet and crypto entrepreneur BMAN. We are builders, entrepreneurs, influencers and the most valuable partners behind the builders. We have our teams in Silicon Valley, Singapore and Beijing that build bridges between the ecosystems in the East and West. Our LPs and partners include the world’s leading cryptocurrency exchanges and well-known infrastructures in the crypto industry. We deliver further to support builders from end to end from marketing, community relations to engineering and ecological construction.
About Amber Group
Amber Group is a leader in trading digital assets, products and infrastructure. We work with companies ranging from token issuers, banks and fintech firms, to sports teams, game developers, brands and creators. We operate at the center of the markets and provide liquidity across all major exchanges, applications and networks. Across all products and categories, we’ve done $1,000 in volume since inception. Our core value is to build strong relationships with our customers; helping them buy and sell digital assets, earn returns, manage risk and access liquidity. Through our consumer fintech platform, WhaleFin, individual investors can enjoy secure, award-winning investment services, including app and online trading, fixed income and structured products.
To learn more about NFEX, you can read our previous blog link here.
This is a press release. Readers should do their own due diligence before taking any action related to the Promoted Company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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