ProjectX successfully closed a 12-times oversubscribed $1.7M fundraising round
NYC and Australia based NFT startup ProjectX (XIL)has successfully closed a 12-times oversubscribed $1.7M fundraising round with the participation of industry leading VCs.
NFT-startup ProjectX ($XIL) solves the problems associated with the lack of transparency and complicated nature in the NFT market by making NFT investments liquid, accessible, and secure through its unique and dynamic NFT-pegged pool. They have successfully raised a $1.7M strategic investment round from industry leading VCs such as LD Capital, M6 Capital, SL2 Capital, YoubiCapital, SMC Capital, Ex Capital and others.
Raised funds will be spent on the international expansion of the ProjectX platform, user acquisition, and R&D.
ProjectX’s representative said
“We are proud of having such large interest from industry leading VCs. We only accepted offers from investors who provided us with significantly added value, resources and expertise. We believe our investors will be actively collaborating with the project in the long term”.
ProjectX solves the problems associated with the lack of transparency and complications in the NFT market by making NFT investments liquid, accessible, and secure through its unique and dynamic NFT-pegged ETFs. Additionally, it makes NFT collecting more lucrative and beneficial for all by offering an array of liquidity mining & rewards farming programs. Due to the NFT/ DeFi nature of the project, ProjectX in particular addresses the market of cryptocurrency trading and yield-based investments (specifically to the DeFi and NFT market).
By further developing the use of indexes and ETFs, it aims to create different themed pools of NFTs — which include Music, Digital Art, Sports Cards, and KOL issued NFTs within its unique platform. This development will assist both Institutional and Public adoption — driven by hundreds of large-scale and Tier-1 entertainment corporations .