NFTFN, a fintech entity in the web3 arena, has completed the initial phase of its fundraising, securing USD 500,000 by distributing USD 10 million NFTFN tokens at USD 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 USD 0.030 each, due to the enthusiastic reception from the initial phase.

Abhishek Kumar, Co-founder & CMO of NFTFN, reflected on the success, 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. We are overwhelmed by the community's support and look forward to continuing our momentum in the second phase."

NFTFN is a web3 Fintech startup aimed at democratizing access to the NFT Ecosystem for the masses. The company endeavors to create various financial instruments in the NFT ecosystem, such as derivatives around NFTs, to help scale this ecosystem.

Vikas Singh, another Co-founder & CEO of NFTFN, said, "This significant early success lays a solid foundation for the stages to come. We are deeply encouraged by the market's response and are gearing up to enhance our platform's capabilities significantly. The upcoming phase is critical as we expand our offerings and further integrate with key industry players to bring unparalleled value to our token holders."

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) and Mutant Ape Yacht Club (MAYC), Azuki, Doodles, & Clone X without direct asset ownership.

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 USD 750,000 during this phase, reinforcing its position to capitalize on the expanding global NFT market.

Article Sources – NFTFN, The Economic Times