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NFT Derivative DEX NFEX Completes US $3M Seed Round Financing

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On February 15, it was reported that NFT derivative DEX NFEX had completed a seed round financing of US $3 million, which was led by ABCDE Capital and particip…

NFT Derivative DEX NFEX Completes US $3M Seed Round Financing

On February 15, it was reported that NFT derivative DEX NFEX had completed a seed round financing of US $3 million, which was led by ABCDE Capital and participated by Amber Group and Firestone Ventures.

NFT derivatives DEX NFEX completed US $3 million financing

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NFT derivative DEX NFEX has recently announced that it completed a seed round financing of US $3 million on February 15, 2021. The seed round was led by ABCDE Capital, a venture capital firm that invests in decentralized finance (DeFi), and participated by two other prominent investors, Amber Group and Firestone Ventures.

NFEX is a decentralized exchange (DEX) that specializes in non-fungible tokens (NFTs) derivatives. NFTs are unique digital assets, such as art, music, and gaming items, that are stored on a blockchain and verified as authentic. By creating derivatives of NFTs, NFEX enables users to trade these assets without actually owning them. This can be useful for investors who want to speculate on the value of NFTs without the hassle of buying, storing, and transferring them.

The completion of the seed round financing is a significant development for NFEX. The infusion of US $3 million will allow the company to ramp up its operations and expand its user base. The involvement of ABCDE Capital, Amber Group, and Firestone Ventures also adds credibility to NFEX and reflects the growing interest in the NFT market.

In recent months, the NFT market has exploded in popularity. According to NonFungible.com, a website that tracks NFT market data, the total value of NFT transactions in 2020 was US $250 million. In the first two months of 2021, the total value has already surpassed US $200 million. This surge in demand has attracted the attention of investors and entrepreneurs, who are looking to capitalize on the emerging market.

NFEX is well-positioned to benefit from this trend. The platform is designed to be user-friendly and accessible, which could attract a wider audience to the NFT market. With the backing of ABCDE Capital, Amber Group, and Firestone Ventures, NFEX has a strong base of support to build on.

In conclusion, NFEX’s completion of a US $3 million seed round financing led by ABCDE Capital and participated by Amber Group and Firestone Ventures is a significant development for the NFT market. NFEX’s specialization in NFT derivatives and its user-friendly platform make it a promising player in the emerging market. As more investors and entrepreneurs enter the NFT space, NFEX could become a key platform for trading and speculating on these unique digital assets.

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