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NFT Derivatives Trading Platform Tribe3 Completes $2.1M Financing Round

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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, Cogi

NFT Derivatives Trading Platform Tribe3 Completes $2.1M Financing Round

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

On April 26th, the NFT derivatives trading platform Tribe3 completed a $2.1 million financing round. This article will discuss the financing round, the companies that participated in it, and what it could mean for the future of Tribe3.

What is Tribe3?

Tribe3 is an NFT trading platform that allows users to trade derivatives of non-fungible tokens. This means that instead of buying and selling the actual NFT, users can trade contracts based on the value of the NFT. This allows for more liquidity in the market and enables traders to profit from changes in NFT prices without having to hold the NFTs themselves.

The $2.1 Million Financing Round

The $2.1 million financing round was led by Spartan Capital, with participation from Newman Capital, Infinity Ventures Crypto, Modular Capital, Cogitant Ventures, Blockbuilders, Founderheads, Lapin Digital, Blockhype, and others. This funding will be used to further develop and expand the Tribe3 platform.

What Does This Mean for the Future of Tribe3?

The completion of this financing round is a positive sign for the future of Tribe3. With the backing of several high-profile investors, the platform has the resources it needs to continue developing and improving its product. Additionally, the participation of these investors is a signal that they believe in the potential of Tribe3 and the market for NFT derivatives.

Potential Issues with NFT Derivatives Trading

While the market for NFT derivatives is still relatively new, there are some potential issues that traders and investors should be aware of. One concern is around the valuation of NFTs and the contracts based on their value. As NFTs are relatively new assets, determining their true value can be difficult. This can make it challenging to accurately price NFT derivative contracts and for traders to know exactly what they are buying or selling.

Conclusion

The completion of this $2.1 million financing round is a positive sign for Tribe3 and the market for NFT derivatives. With the additional funding, the platform can continue to develop and improve its product. However, traders and investors should be aware of potential issues around the valuation of NFTs and the contracts based on their value when trading NFT derivatives.

FAQs

Q: What is Tribe3?
A: Tribe3 is an NFT trading platform that allows users to trade derivatives of non-fungible tokens.
Q: Who led the $2.1 million financing round for Tribe3?
A: Spartan Capital led the financing round, with participation from several other investors.
Q: What are some potential issues with NFT derivatives trading?
A: One concern is around the valuation of NFTs and the contracts based on their value, as NFTs are relatively new assets.

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