NFT Platform NIFTEX Raises $500k in Funding Round Led by 1kx

By Abhimanyu Krishnan | News | Unpublished

Non-fungible Token (NFT) trading platform NIFTEX has raised $500,000 in a seed funding round led by 1kx, according to a press release published on Nov. 3.

  • The funding round was led by early-stage token fund 1kx, with additional participation from CoinFund, Sparq Ventures, Digital Currency Group, MetaCartel Ventures and others
  • NIFTEX’s NFT platform lets users trade NFTs and offers fractional ownerships of NFTs, which the team states invites more investment, better efficiency and further development of infrastructure
  • The firm revealed that it has executed $1.8 million in NFT transactions since the launch of the alpha version in June 2020
  • NIFTEX expects to launch a fully decentralized second version of the platform in Q1 2021
  • NFTs have grown considerably in popularity in 2020, with NFT digital art platform Rarible in particular showing improved statistics, both in terms of users and volumes
  • Notable sales includes that from from NFT Marketplace MakersPlace, which saw Batman artwork for approximately $202,000 on Oct. 17, 2020

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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