NF3 Exchange (NF3x), a multichain NFT Swapping, Financing and Options marketplace Co-founded by Poorvi Sachar, has raised US$1.65 million in a seed funding round co-led by Infinity Ventures Crypto and Spartan Group.
- NF3x is a multichain NFT swaps and options to swap marketplace enabling users to create personalized trading opportunities in a safe and trusted environment. The platform intends to enable new and exciting features into the NFT space.
- The seed funding also received investment form Singapore-based multi-stage web3 investment firm DWF Labs, and early-stage VC Saison Capital. Angel investors include Neil Gomes, EMEA Head of Fintech at Softbank, David Chreng, Founding Partner at LeadBlock and Bitmex Co-founder Arthur Hayes.
- Founded by Poorvi Sachar, Tezos India Head of Operations, along with prominent Bored Ape Yacht Club members Skittlewood and 0xStarmowa, NF3X intends to create a better collecting and trading experience for people to interact in the web3 space.
- NF3x will feature NFT swapping, bartering and financing features, enabling users to exchange their digital collectibles with others in a secure and intuitive environment. Collectors looking to “upgrade” their collectibles to ones with rarer traits have the option of making a trait-wide offer package or contact existing owners on the platform using the build-in chat function.
- “We are honoured to have the support of our strategic investors who believe in our mission and vision. Collecting and trading of NFTs should be a communal, effortless and an enjoyable activity similar to trading cards,” states NF3X Co-Founder, Poorvi Sachar. “We are looking to change the way peer-to-peer (P2P) exchanges work by building a secure platform where members of the different communities are able to barter, communicate and seek financing in their collecting journey.
- Kelvin Koh, Co-Founder of Spartan Group, said: “As traders become more sophisticated, they’re demanding trading venues that allow them to do more, and the growth of the NFT market has sparked a rise in financing options for creators and collectors. The suite of products that NF3x is providing for its users go above and beyond spot buying and selling, and we’re excited to support them as they onboard the next generation of NFT traders and funds onto their platform.”
- NF3 Exchange will first launch on the Ethereum blockchain, with support for Tezos, Polygon and Solana NFTs next on the roadmap. The platform will allow NFT collectors to have complete control over their digital assets, while offering peer-to-peer financing options including “Buy now, Pay later” to capture these opportunities as they emerge in Web3.
- “NFTs are among the first mainstream tools unlocking the potential of Web3. I am excited to support NF3x’s vision of a tech infrastructure providing transparency, security and flexibility in a space where existing P2P trading methods are capital inefficient, and extremely susceptible to scams and hacks,” said David Chreng, LeadBlock’s Founding Partner.
- NF3 also announced the launch of ApeCoinStaking.io in partnership with Solidity.io earlier this month to build an Apecoin staking platform for Bored Ape Yacht Club communities around the world.