NFEX Raises $3M Seed Round to Build NFT Derivatives DEX press release
PRESS RELEASE.NFEX has completed a $3 Million seed round led by ABCDE Capital and included investment from other well-known institutions including Amber Group and Firestone Ventures. NFEX strives to build the best derivative NFT market, creating new opportunities to attract greater liquidity to the NFT marketplace.
What is NFEX?
NFEX is a decentralized derivatives exchange that offers perpetual swaps trading across popular blue chip NFTs and other crypto assets. NFEX expands limitations and boosts liquidity compared to traditional NFT marketplaces, offering leverages and long/short trading capabilities. Users can take positions in NFTs at low entry costs, speculating the future prices in either direction or shorting NFTs without any holdings. This opens up a variety of trading strategies for NFT traders including hedging, speculation and arbitrage.
BMAN, the co-founder and GP at ABCDE Capital commented in a previous interview, expressing his concerns over the lack of liquidity in 99.99% of the existing NFT projects and his confidence in innovative products like NFEX to bring a 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 for 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 twitterfor the most recent updates.
About ABCDE Capital:
ABCDE is a 400mm fund investing in web3 builders co-founded by Huobi co-founder Du Jun and former Internet & crypto founder BMAN. We are builders, entrepreneurs, influencers and the most valuable partners behind the builders. We have our teams in Silicon Valley, Singapore and Beijing bridging the ecosystems of the east and west. Our LPs and partners include the world’s leading cryptocurrency exchange and well-known infrastructures in the crypto industry. We hand on 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 digital asset trading, products, and infrastructure. We work with companies ranging from token issuers, banks, and fintech firms, to sports teams, game developers, brands, and creators. Operating at the center of markets, we provide liquidity across all major exchanges, applications, and networks. Across all products and categories, we have turned over $1T in volumes since inception. Our core value is building strong relationships with our clients; helping them buy and sell digital assets, earn yield, manage risk, and access liquidity. Through our consumer fintech platform, WhaleFin, individual investors enjoy secure, award-winning investing services including app & web trading, fixed income and structured products.
To learn more about NFEX you can read our previous blog link here.
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