NFTFN, a fintech entity in the web3 arena, has completed the initial phase of its fundraising, securing $500,000 by distributing 10 million $NFTFN tokens at $0.025 each over ten days.
The initiative has now progressed to its second phase, where it aims to distribute an additional 25 million tokens at $0.030 each, due to the enthusiastic reception from the initial phase.
Abhishek Kumar, co-founder and CMO of NFTFN, said, "The completion of our first phase not only signifies a strong start but also reinforces our commitment to democratizing access to the NFT market."
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As per a company statement, NFTFN is addressing key obstacles in the NFT landscape, including high entry costs and a lack of essential hedging and risk management tools. Its flagship initiative, SuperNova (SNV), is a Perp DEX targeting Blue-Chip NFTs that allows participants to engage in price speculation on premier collections like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, Doodles, and Clone X without direct asset ownership.
The platform has received backing from notable figures, including Sandeep Nailwal, co-founder of Polygon, and has formed alliances with industry leaders such as Binance Smart Chain and Polygon, according to the company statement.
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NFTFN envisions itself as a comprehensive perpetual trading hub, aptly named "Trade Everything Perps," intended to extend the range of assets available for perpetual trading beyond NFTs to include cryptocurrencies, ordinals, and real-world assets (RWAs).
The second phase of the initiative has already attracted considerable interest, with over 1.7 million tokens distributed promptly. NFTFN plans to raise an additional $750,000 during this phase, reinforcing its position to capitalize on the expanding global NFT market.
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