NFT Derivatives Trading Platform Tribe3 Raises $2.1 Million in Financing

04/26/2023 13:34 • AI Insights • 89 views

On April 26th, the NFT derivatives trading platform Tribe3 completed a $2.1 million financing, with Spartan Capital, Newman Capital, Infinity Ventures Crypto, Modular Capital, Cogitant Ventures, Blockbuilders, Founderheads, Lapin Digital, Blockhype and others participating in this round of financing.

NFT derivatives trading platform Tribe3 completed $2.1 million in financing

NFTs, or non-fungible tokens, have been dominating the headlines in recent months. The digital assets have been selling for millions of dollars, with everyone from artists to sports organizations jumping on the bandwagon. One area of the NFT market that has yet to receive as much attention is derivatives trading. That changed on April 26th, when Tribe3, an NFT derivatives trading platform, announced that it had completed a $2.1 million financing round.

What is Tribe3?

Tribe3 is a platform that allows users to trade derivatives based on the value of NFTs. Derivatives are financial instruments that derive their value from an underlying asset. In this case, the underlying asset is an NFT. According to Tribe3’s website, “Derivatives trading allows NFT holders to hedge risk, monetize collections, and access additional liquidity.”
Tribe3’s platform is designed to be user-friendly, with a simple interface and a wide range of functionality. Users can buy and sell options on NFTs, as well as trade perpetual futures contracts. The platform also offers a trading API, allowing developers to integrate their own trading applications with Tribe3’s infrastructure.

The Financing Round

Tribe3’s $2.1 million financing round was led by Spartan Capital, a New York-based investment firm that specializes in blockchain technology. Other investors included Newman Capital, Infinity Ventures Crypto, Modular Capital, Cogitant Ventures, Blockbuilders, Founderheads, Lapin Digital, and Blockhype.
The financing will allow Tribe3 to expand its offerings and reach a wider audience. In a press release announcing the round, Tribe3 CEO Domenic Carosa said, “We’re excited to have the support of such a strong group of investors. This financing will allow us to continue to build out our platform and deliver innovative products that meet the needs of the NFT community.”

The Future of NFT Derivatives Trading

NFT derivatives trading is still in its infancy, but it has the potential to be a major force in the NFT market. Derivatives offer NFT holders a way to hedge their risk and monetize their collections, which could attract more investors to the market. The addition of derivatives trading could also bring a level of stability to the NFT market, as it allows for more predictable pricing.
Tribe3’s financing round is a sign that investors believe in the potential of NFT derivatives trading. As more platforms emerge and the market matures, it will be interesting to see how NFT derivatives trading evolves and whether it becomes a significant part of the NFT ecosystem.

Conclusion

Tribe3’s $2.1 million financing round is a significant development in the world of NFT derivatives trading. The platform’s user-friendly interface and wide range of functionality make it an attractive option for investors looking to trade derivatives based on the value of NFTs. The financing will allow Tribe3 to continue to build out its platform and deliver innovative products to the NFT community. As the market for NFT derivatives trading grows and matures, it will be exciting to see what developments emerge.

FAQs

Q: What is an NFT?
A: An NFT is a non-fungible token, a digital asset that is unique and cannot be duplicated.
Q: What is derivatives trading?
A: Derivatives trading is the practice of buying and selling financial instruments that derive their value from an underlying asset, such as an NFT.
Q: Why is NFT derivatives trading significant?
A: NFT derivatives offer NFT holders a way to hedge their risk and monetize their collections, which could attract more investors to the market. The addition of derivatives trading could also bring a level of stability to the NFT market, as it allows for more predictable pricing.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/04/26/nft-derivatives-trading-platform-tribe3-raises-2-1-million-in-financing/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.