Why are we backing NFTFN?
Human interactions with NFTs have been changing shape over the past few years ever since the standards were set in stone. From being certificates of authentication, collectibles, wearables , representation of a real-world items with provable ownership — this digital asset has seen much volatile times. However, its utility as a true financial instrument has not been realized in the proper sense.
This is about to change!
Get ready for a makeover of NFTs as financial instruments with NFTFN — an order-book-based NFT Perpetual DEX where traders can go-long or short with leverage on NFT markets via indexing.
We are absolutely thrilled to announce that Pivot is backing NFTFN and welcome them to the next & pivotal phase of their transformative journey aboard our flagship Web 3.0 acceleration program.
Why are we backing NFTFN?
The Founders
Pivot has an arrow-head type focus on founders — because it is their vision, drive, and leadership that are critical to a startup’s innovation, growth, and long-term success. In case of NFTFN, it was a no-brainer with the legacy that co-founders Vikas Singh and Abhishek Gupta carry in the web3 space.
Vikas, with his 9-plus years’ deep technology expertise in blockchain, entrepreneurship, vision and commitment to leveraging technology for social value, alongside Abhishek’s extensive experience in marketing, edtech, and his proven ability to drive global community engagement around products, embody the leadership qualities Pivot seeks.
Their combined skills, vision, and dedication to innovation within the web3 space make them exemplary leaders, poised to steer NFTFN towards reshaping the NFT derivatives landscape.
The Backers
NFTFN has been backed by the best Web3 industry leaders with Sandeep Nailwal, Co-Founder, leading the way along with Anshul Dhir who has been 3x founder in web3 and currently a founder at as well. The other leaders that believe in NFTFN’s as a team, Alpha Wave Global, Prashan Agarwal, Founder, , Sumit Ghosh, Co-Founder at & many more Web 3.0 experts & angels. The OGs of the space backing NFTFN’s vision was a good reason for Pivot to consider working with founders on their growth journey.
Primed for Mass Adoption
NFTFN is pioneering a unique decentralized NFT Index meticulously engineered to offer synthetic exposure to some of the most prestigious Blue-Chip NFTs in the marketplace.
NFTFN’s tech combines 5 notable collections of BAYC, MAYC, Azuki, CloneX, & Doodles into one comprehensive index based on the floor-price (spot) of these individual collections. This with the potential for upto 10x leverage on trades, means that more traders can avail the benefits of the platform.
We believe that this index will simplify entry into high-value NFT markets, enhancing liquidity, and democratizes access, while also reducing the overall costs and complexities associated with the spot market of NFTs.
Built on their flagship product — SuperNova, a perpetual DEX — we firmly believe this NFT index primes NFTFN’s platform for widespread adoption, opening new opportunities for a broad spectrum of investors to the premium NFT space.
Multi Ecosystem Play
NFTFN has been testing their product among real users — on Polygon Testnet — for the past few months and the numbers reflect the growing interest in index-based trading opportunities. Polygon being a huge ecosystem for the DeFi and NFT markets, will also aid in bootstrapping the product when it goes mainnet.
NFTFN has now planned a multi-ecosystem expansion roadmap to larger networks which have an eventual reach of approximately 14 million NFT users & over 30 million DEX traders across chains which includes institutions and HNW traders and whales that tinker with perps on a regular basis.
Addressable Markets
Lets look at some stats produced by NFTFN’s product during Testnet. Till date, over 2500 users have conducted 7000+ trades on the SuperNova app generating trade volumes of 300K+ WETH which is equivalent to $1 Billion in paper volumes. This demonstrates the platform’s reliability, user satisfaction and underscoring the market impact of the product.
Let us now visualize what the future holds for this unique NFT-floor price based index product from NFTFN. Some stats will help understand why this market is moon-bound making NFTFN a potential billion dollar market cap company.
- As per a report, the NFT markets are poised to grow to USD $ 14.752 Billion by 2026 at a CAGR of 35% and 12x to over $300 Billion by 2032.
- There are 14 million users in the NFT space, expected to grow to 20 Million by 2027 (Source: Demandsage)
- Over 12000 NFT sales happens on a daily basis, with 10000 wallets engaging (Source: Demandsage)
- As of March 2023, crypto derivatives continue to dominate the market with 74.8% share of crypto’s total trading volume of $2.95 trillion. (Source: CoinGecko)
- The second biggest blockchain for NFTs is Bitcoin, capturing 12.9% market share and trading volume of $1.5 billion in 2023. (Source: CoinGecko)
- Bitcoin trading volume grew nearly 15x or 1,495% between 2023 Q3 and Q4, with volume rising from a mere $0.08 billion to $1.20 billion. (Source: CoinGecko)
- In February 2023, the top six NFT marketplaces saw a total trading volume of $1.89 billion, marking a fourth consecutive monthly increase and a significant 91.9% surge from January’s $987.9 million. (Source: CoinGecko)
These numbers are testament to the resurgence of the NFT markets on various blockchains. We believe the future numbers will be driven by increasing digital asset adoption by institutions and evolving consumer preferences towards blockchain-based collectibles and increasingly new use cases for the NFT in different traditional markets & sectors.
An increased access to liquidity will also be instrumental in creating new solutions as pioneered by NFTFN. This market boom will also be aided by the now prevalent and accepted ETF markets led by the Bitcoin ETF. The ETF exposure is going to spread to NFTs where NFT index-based products such as SuperNova by NFTFN are going to play an important role.
Product Roadmap
While the primary product from the NFTFN stable is SuperNova with the blue-chip NFT index as stated about, the team is already preparing to address a $4.5 B Ordinals NFT markets on SuperNova.
As mentioned above, Bitcoin is already the 2nd biggest blockchain (12.9% market share) for NFTs followed by Solana (7.4%) and Polygon (2.2%).
Galaxy Digital reveals that the cumulative trading volume of Ordinals during the initial 8 months of 2023 stood at $596.4 million (USD), forecasting a market capitalization surge to $5 billion (USD) by 2025. (Source: Galaxy Digital Report)
This only shows that the roadmap planned by NFTFN runs as per the market trends and prospects. Hence, NFTFN’s foray into the Ordinals perp markets might become a game-changer while also giving it an first mover advantage in the NFT perps markets. Further down in the roadmap are Solana NFT & Polygon NFT Perps along with an index based perpetual market for RWAs. This extensive roadmap aligns with Pivot’s vision of supporting innovative and market defining businesses.
Role of Pivot in the NFTFN journey
Pivot has a task cut out with NFTFN. The product is in an advanced stage of development with an impending mainnet to be ready anytime now. What started off as an Angel and advisor investment by Pivot’s founder Anshul Dhir, which he did in the Seed round earlier, has now increased in magnitude and commitment, since we have now doubled down on the great work and team. As a strategic investor, Pivot is deeply involved in fueling NFTFN’s growth and ecosystem expansion, ensuring that the venture scales effectively in the competitive landscape of blockchain and NFTs.
Furthermore, Pivot plays a crucial role in guiding NFTFN through the complexities of compliances and regulatory frameworks, ensuring that the platform not only adheres to current laws but is also poised to navigate future regulatory landscapes, securing a sustainable and compliant path forward in the rapidly evolving digital asset space.
NFTFN is the first company that has been accepted to Pivot’s flagship acceleration program.
Speaking on this occasion, Anshul Dhir, Founder, Pivot said,
“The induction of NFTFN onto Pivot’s acceleration program aligns with our vision to collaborate, support growth, and revolutionize the digital asset landscape in the DeFi sector. This coupled with the groundbreaking work done by NFTFN for the NFT perp markets exemplifies the pioneering spirit we cherish. We wholeheartedly welcome the NFTFN team to the Pivot family and look forward to working with them to create some unprecedented achievements in the Web3 space.”
Vikas Singh, Co-Founder & CEO, NFTFN said,
“For any Project to become a self-sustaining business, it needs many partners that are as committed as the team on the project. Our commitment to innovating within the NFT and DeFi spaces finds a perfect ally in Pivot. I see this partnership as a cornerstone for our growth and exploration of the NFT-Fi space. Together, we aim to create a potent mix of technology, products and new benchmarks in the Web3 finance space especially focusing on the NFT perp sector.”
Championing Innovation in the NFT Space
NFTFN’s trailblazing approach in the NFT derivatives market exemplifies the forward-thinking and transformative potential Pivot seeks to foster. By backing NFTFN, we underscore our commitment to pioneering projects that redefine digital asset interaction, marking a new era of inclusivity and innovation in the blockchain ecosystem. We eagerly anticipate witnessing NFTFN’s journey and achievements, confident they will set new benchmarks for success.
Looking forward to 🚀🚀 with Team NFTFN
About NFTFN
NFTFN stands at the forefront of web3 fintech, pioneering a suite of financial products centered on Blue-Chip NFTs such a BAYC, MAYC and more. Beyond a mere trading platform, NFTFN positions itself as an architect of innovation within the NFT-Fi domain. Its mission is to equip traders and enthusiasts with advanced tools, leveraging select blue-chip NFTs to transform a trader’s interactions with the digital assets. Their flagship offering, SuperNova (SNV), epitomizes NFT trading’s future. As a floor-price perpetual DEX, SuperNova amalgamates key NFT collections like BAYC, MAYC, Azuki, Doodles, and CloneX into a singular, potent index, heralding a new era for NFT trading ecosystems.
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About Pivot
Pivot is a global venture accelerator firm dedicated to the Web 3.0 industry, created by founders, for founders. Pivot’s selected startups are focused on milestones & are not bound to periodic curriculum-based programs. Founded by Anshul Dhir, a 3x founder in the Web 3.0 space, and mentor and investor in over 50 companies in Web3, we are uniquely positioned to lead the new wave of startups in the Web 3.0 space. Pivot is being supported by some great founders & Angels in this industry including Polygon, Delphi Digital, Blockchain Founders Group, Liminal, Biconomy, BitsCrunch, Tegro, Router, QuickSwap & more. We are also supported by Tier 1 ecosystems such as BNB Chain, Polygon, Arbitrum, ICP, Manta Network, Mantle apart from many VCs, launchpads, Exchanges & many more.
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