Ethereum

David Vance

Partner

Quick take:&nbsp; 
<ul> 
 <li>The fundraising also attracted participation from Maven 11 and Mechanism Capital.</li> 
 <li>Spencer Gordon-Sand of Spencer Ventures, David Choi of MetaStreet, and Nick Emmons of Upshot were among the angel investors joining the round.</li> 
 <li>NFTperp’s perpetual futures DEX platform allows retail traders to buy or short selected blue-chip NFTs.</li> 
</ul> 
NFTperp has completed a $3 million Series A round led by 1kx. The fundraising also attracted participation from Maven 11 and Mechanism Capital. Popular angel investors joining the round include Gmoney, Limzero, Spencer Gordon-Sand of Spencer Ventures, David Choi of MetaStreet, NFTfi’s Jonathan Gabler, and Nick Emmons of Upshot. 
NFTperp offers a perpetual futures decentralised exchange (DEX) platform that allows traders to buy or short the floor prices of <a href="https://www.nftgators.com/these-blue-chip-nfts-added-to-their-market-caps-during-crypto-winter/">blue-chip NFTs</a>. The company’s open-source protocol blends a decentralized limit order book with the autonomy of an automated market maker (AMM).&nbsp; 
According to the nftperp website, traders can capitalise on leverage of up to five times (5x) their account value. NFTperp is built on the layer-2 Ethereum scaling protocol Arbitrum, which it says allows it to provide an inexpensive trading experience. 
Commenting on his company’s leading role in the Series A round, Terry Chung, Research Analyst at 1kx said: “We’re excited about nftperp’s mission to bring perpetual futures to illiquid assets, which enable better price discovery, hedging and the overall increase in the potential user base for NFTs.”&nbsp; 
The company wants to take the NFT market beyond buying, selling, and holding NFTs by enabling traders to long or short <a href="https://www.nftgators.com/nft-collections/">NFT collection</a> prices, thus giving retail NFT enthusiasts access to blue-chip NFTs that they previously could not afford. 
This option also brings more liquidity to <a href="https://www.nftgators.com/what-is-an-nft/">NFTs</a>, which have been adversely affected by the current market downturn. NFTperp’s goal is to continue unlocking a new suite of possibilities for retail NFT traders, new and experienced collectors, and institutional investors. 
Mathijs van Esch, General Partner at Maven 11 commented: “As the non-fungible token market continues to grow, having the ability to hedge, take sides and efficiently price assets becomes increasingly important. We believe that nftperp is the best place for users to do so, and have been super impressed by the entire team over the last year.” 
Marc Weinstein, Partner at Mechanism Capital pointed to the rise in decentralised derivatives offerings for fungible tokens as a reasonable assumption that the trend will continue with NFTs. “We expect nftperp to be the winner in this massive sector.” 
NFTperp Founder, 0xJose added: “We are beyond grateful for investors’ support. But this round is not just about capital; it represents a collective belief in nftperp’s mission and our thesis on NFT Finance. This fundraise sets the stage for bigger milestones. We look forward to continue innovating and challenging the status quo.” 
**** 
Stay up to date: 
Subscribe to our newsletter using&nbsp;<a href="https://nftgators.substack.com/" target="_blank" rel="noreferrer noopener">this link</a>&nbsp;– we won’t spam! 
<ul> 
 <li><a href="https://news.google.com/publications/CAAqBwgKMKqZrgswt6TGAw?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" target="_blank" rel="noreferrer noopener">Google News</a></li> 
 <li><a href="https://twitter.com/NFTgators">Twitter</a></li> 
 <li><a href="https://t.me/NFTgatorsNews">Telegram</a></li> 
 <li><a href="https://www.linkedin.com/company/nftgators/">LinkedIn</a></li> 
 <li><a href="https://facebook.com/NFTgators-103707808818830">Facebook</a></li> 
 <li><a href="https://www.tiktok.com/@nftgators">TikTok</a></li> 
</ul> 
The post <a href="https://www.nftgators.com/nft-perpetual-dex-platform-nftperp-secures-3m-pre-seed-led-by-1kx/">NFT Perpetual Futures DEX Platform NFTperp Secures $3M Series A led by 1kx</a> appeared first on <a href="https://www.nftgators.com">NFTgators </a>.

NFT Perpetual Futures DEX Platform NFTperp Secures $3M Series A led by 1kx

NFTgators

Other articles published on Dec 13, 2023

Upgrade package

XRP Would Be a Top Performer in the Next Bull Cycle: Ben Armstrong

OKX Wallet Adds 50x Leverage Trading with GMX Integration

3AC’s Su Zhu To Be Released; Faces Questions on Fund’s Collapse

Dogecoin (DOGE) Showcases Daring Twists Worth Noting

Analyst predicts $50K Bitcoin by the end of the year, investors bullish on InQubeta (QUBE) launch...

Join our free newsletter for daily crypto updates!