NFT Derivatives Trading Platform, Tribe3, Raises $2.1 Million in Financing

04/26/2023 13:34 • Blockchain Buzz • 179 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

Tribe3, a leading NFT derivatives trading platform, announced on April 26th that it has secured $2.1 million in financing. The funding round was led by Spartan Capital, Newman Capital, and Infinity Ventures Crypto, with participation from other well-known venture capital firms, including Modular Capital, Cogitant Ventures, Blockbuilders, Founderheads, Lapin Digital, and Blockhype.
This article will delve deeper into the recent funding of Tribe3, including the platform’s purpose, how it works, and the importance of this funding round.

What is Tribe3?

Tribe3 is a platform that allows users to trade non-fungible token (NFT) derivatives, including options, futures, and swaps. NFTs are digital assets that are used to represent ownership of unique items, such as artwork, collectibles, and virtual real estate.
The platform provides a customizable trading interface and leverages blockchain technology to ensure security, transparency, and decentralization. This allows for fair and efficient price discovery, as well as a streamlined trading experience.

How Does Tribe3 Work?

Tribe3 utilizes an Automated Market Maker (AMM) system for its derivatives trading. This means that the platform uses algorithms to determine the price of the NFTs being traded, instead of relying on a central authority.
Users can create or join liquidity pools on the platform, which enable trades to take place without the need for a traditional central order book. This allows for fast and efficient trades and reduces the risk of manipulation.

Importance of the $2.1 Million Funding Round

The $2.1 million in financing raised by Tribe3 is a significant milestone for the platform. The funding will be used to further develop and improve the platform, as well as expand its reach in the NFT trading market.
Additionally, the participation of well-regarded venture capital firms, such as Spartan Capital and Newman Capital, demonstrates the potential that Tribe3 has in the rapidly growing NFT space.

Conclusion

Tribe3’s recent $2.1 million funding round signifies a turning point in the NFT derivatives trading platform. With the participation of top venture capital firms, Tribe3 is poised to take advantage of the growing market for NFTs and their associated derivatives.
FAQs:
Q: What is an NFT?
A: An NFT, or non-fungible token, is a digital asset that represents ownership of a unique item, such as artwork or collectibles.
Q: What is a derivatives trading platform?
A: A derivatives trading platform allows users to trade financial instruments, known as derivatives, such as options, futures, and swaps.
Q: What is an Automated Market Maker?
A: An Automated Market Maker is a system that uses algorithms to determine the price of assets being traded, without the need for a central authority.

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