Cointime

Cointime

Download App
iOS & Android

NFEX Raises $3M Seed Round To Build NFT Derivatives DEX

Cointime Official

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 twitter for 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.

Amber Group NFT
Comments

All Comments

Recommended for you

  • U.S. July Nonfarm Payrolls Fall by 23,000, Missing Market Expectations

    On August 7, U.S. nonfarm payrolls decreased by 23,000 in July, compared with market expectations of an increase of 80,000, and the previous value was an increase of 57,000.

  • US May and June Nonfarm Payroll Additions Revised Down by 103,000 Combined

    On August 7, the US Bureau of Labor Statistics: May nonfarm payroll additions were revised down from 129,000 to 63,000; June nonfarm payroll additions were revised down from 57,000 to 20,000. After the revisions, the combined additions for May and June were 103,000 lower than previously reported.

  • U.S. Rate Futures Market Sees Lower Odds of Fed September Hike

    On August 7, the probability of a Fed rate hike in September as priced by U.S. interest rate futures declined.

  • New York Gold Futures Top $4,400 per Ounce

    New York gold futures topped $4,400 per ounce, up 2.36% on the day.

  • Japan Finance Minister: FX Market Affected by Moves Not Driven by Actual Demand

    Japanese Finance Minister Satsuki Katayama said she and U.S. Treasury Secretary Bessent agreed that the foreign exchange market has been affected by moves not driven by actual demand.

  • BTC Breaks Through $65,000

    Market data shows BTC has broken through $65,000, currently reported at $65,007.44, with a 24-hour increase of 0.6%. The market is highly volatile, please exercise risk control.

  • Brent Crude Drops 2.00% Intraday to $81.07/Barrel

    Brent crude oil fell 2.00% during the day, now at $81.07 per barrel. (Jin Shi)

  • Trump: Data Centers May Be More Important Than Oil

    August 7 news, U.S. President Trump said in an interview with Punchbowl News, "I saw the other day that Texas seems to be opposed to building data centers. I think that's a mistake. I'm not taking a position—I just think it's a mistake, because there are other communities that want to build data centers. When a community is willing to accept data centers, it means a lot of money will flow into that community. I don't think they're ugly. Some of the data centers I've seen are the most incredible buildings I've ever seen. They are very important to the economy. If Texas says no to data centers, that's a mistake, because data centers may be more important than oil."

  • Trump to Meet with Mining Executives

    On August 7, according to CCTV International News, US President Trump will convene executives from some of the world's largest mining companies at the US State Department on August 7 local time, in an effort to take action to 'secure critical mineral supplies for the US and its allies.' Reuters reported that the US urgently needs critical minerals to replenish weapons inventories depleted during the war against Iran. During the more than five-month war with Iran, the US military expended large quantities of precision-guided missiles and air defense interceptors. US defense officials and lawmakers have warned that given existing production capacity constraints, replenishing some stockpiles could take years—although the Trump administration has denied reports of a so-called 'severe shortage of ammunition stockpiles.' According to Pentagon officials and defense companies, supplies of minerals such as rare earths, tungsten, germanium, and scandium are essential for manufacturing precision-guided missiles, fighter jets, armored vehicles, infrared sensors, and other advanced weapons systems. Expected attendees include industry giants such as global mining giant Rio Tinto Group, Australia's BHP, US Freeport-McMoRan, US Mountain Pass Materials, US Rare Earths, US Energy Fuels, and Canada's Metals Company. According to sources, the Trump administration plans to announce multiple deals and memorandums of understanding.

  • US Regulators Systematically Review Chinese AI Firms' Third-Country Computing Power Leasing

    August 7 news, according to Bloomberg, people familiar with the matter revealed that the U.S. government department responsible for investigating chip export control violations is reviewing Chinese AI companies' leasing of computing power in third countries to obtain Nvidia advanced chips.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company