nftperp Raises $3 Million Series A Round to Accelerate NFT Perpetual Futures Trading
San Francisco, California, December 14th, 2023, Chainwire
Round Led By 1kx, With Participation From Maven 11, Mechanism Capital, and Notable Angels
nftperp, the first NFT perpetual futures DEX, today announces the close of its Series-A round totaling $3 million. nftperp empowers users with a seamless, efficient and decentralized platform to take long or short positions on the floor of select blue-chip NFT collections. Through its sophisticated, open-source protocol, nftperp blends the reliability of a Decentralized Limit Order Book with the autonomy of an Automated Market Maker. In addition, nftperp is also excited to announce that the launch of its much-anticipated v2 is just around the corner, promising to bring additional innovative features and enhancements.
The round was led by 1kx, with participation from investors including Maven 11 and Mechanism Capital, and influential angel investors such as Spencer of Spencer Ventures, Gmoney, David Choi of MetaStreet, Nick Emmons of Upshot, Jonathan Gabler of NFTfi.
“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,” said 1kx. “We are proud to back them through this next phase of growth.”
“We are very excited to be backing the nftperp team again,” added Mathijs van Esch, General Partner at Maven 11. “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.”
At its core, nftperp aims to foster a robust NFT market beyond buying, selling, and holding by enabling traders to long or short NFT collection prices – delivering retail users access to previously inaccessible blue-chip collections. By providing the ability to long and short-sell NFTs in an increasingly illiquid market, nftperp empowers the next iteration of NFT ecosystems to extract deeper utility from the market while simultaneously gaining exposure to the most notable collections.
With this raise, nftperp will continue to unlock a new suite of possibilities for retail NFT traders, new and experienced collectors, and institutional investors.
“Decentralized derivatives trading has grown rapidly over the last few years for fungible tokens and we expect that trend to continue with NFTs. We expect nftperp to be the winner in this massive sector,” commented Marc Weinstein, Partner at Mechanism Capital.
“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,” said nftperp Founder 0xJose. “This fundraise sets the stage for bigger milestones. We’re excited to continue innovating and challenging the status quo.”
Currently, paper trading is live on nftperp. Traders can familiarize themselves with the platform before trading with live funds on v2.
To start paper trading on nftperp, users can visit nftperp.xyz or head over to nftperp’s discord to learn more.
About nftperp:
nftperp, the leading NFT perpetuals protocol, is an open-source DeFi protocol created for all Web3 users. Our mission is to create a comprehensive ecosystem of products that drive the financialization of NFTs with our core product being a decentralized perpetual futures exchange. After achieving over $500 million in volume in our v1, we are excited to announce v2 is just around the corner.