Infinex’s latest Non-Fungible Token collection has generated over $40 million in sales in its first four days despite sluggish performance from leading Non-Fungible Token collections.
Infinex is a non-custodial platform that provides easy access to on-chain protocols and decentralized applications (DApps).
According to the announcement, the platform's new Patron Non-Fungible Token collection has seen sales surpass $40 million in its first four days.
According to Kain Warwick, team leader at Infinex Core, Non-Fungible Token collectibles are expected to attract even more investor interest.
“The first phase of the Patron Sale was incredibly exciting with participation from large institutions, VC firms and angel investors, but the subsequent rounds are even more important as the project expands to the wider community.”
Patron Non-Fungible Token Sale | Source: infinex.xyz
Over 74% of Patron Non-Fungible Token have been sold and there are only six days left until the sale ends.
Patron pulled in $40 million in sales during a period when the Non-Fungible Token market as a whole was in a steep downturn. Some of the most popular blue-chip Non-Fungible Token were down more than 74% from their peak valuations.
Infinex’s total value locked (TVL) surpassed $150 million on July 25, thanks to an ongoing campaign that attracted an additional $100 million in TVL within the first 10 days.
Infinex Total Assets Locked | Source: Infinex
Patron Non-Fungible Token come in three tiers, priced at $5,000, $3,000, or $1,250, with Non-Fungible Token locked for 12 months from the date of distribution, meaning they are non-transferable until they are gradually unlocked.
Participants in the early stages of the Non-Fungible Token sale include Framework Ventures, Wintermute, Wormhole Foundation, and Variantm, as well as prominent crypto figures like 1inch Network co-founder Sergej Kunz.
Infinex aims to replace centralized cryptocurrency platforms, becoming the main point of contact for new users.
Despite hitting $40 million in sales, the broader Non-Fungible Token space remains in a downtrend.
According to NFTPriceFloor data, CryptoPunks , the largest Ethereum-native Non-Fungible Token collection, is currently trading at a base price of 29 ETH, worth $66,800, down more than 74% from its peak valuation of 113 Ether, or $260,000, reached in October 2021.
CryptoPunks floor price chart | Source: NFTPriceFloor
The Bored Ape Yacht Club (BAYC), the second-largest Non-Fungible Token collection, is also down more than 90% from its peak valuation of 128 ETH, worth $295,000, and is currently trading at just 11.8 Ether, or around $27,000.
BAYC Floor Price Chart | Source: NFTPriceFloor
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Viet Cuong
According to Cointelegraph
