OKX Ventures backs AlienSwap to fuel NFT marketplace growth

OKX Ventures, the investment arm of the popular crypto platform OKX, has invested in the community-based NFT marketplace and aggregator AlienSwap. The funding will enable AlienSwap to scale up its operations and pursue its ambition to become the leading NFT marketplace.

AlienSwap, which launched its beta version two months ago, has already achieved a cumulative trading volume of over $50 million. It currently ranks third in daily active users and fifth in daily trading volume on the Ethereum network.

With this new funding from OKX Ventures, the platform hopes to build on its early success and consolidate its position as a major player in the NFT ecosystem.

According to Dora Yue, the founder of OKX Ventures, the NFT market is set for significant growth in the coming years. With NFT trading volumes reaching nearly $24.7 billion in 2022, the investment firm is optimistic about the long-term prospects of the sector.

Yue believes that OKX Ventures’ investment in AlienSwap will help the platform become a more efficient NFT marketplace and reshape the competitive landscape of the industry.

AlienSwap’s founder, Ying Mu, expressed his gratitude for the investment and highlighted the platform’s plans for growth.

The funds will be used to expand the engineering team, develop new liquidity tools and trading products, and invest in NFT infrastructure to enhance the trading experience for users.

Mu emphasized that the core team of AlienSwap and all investors share the same goal: to build a leading NFT trading platform through product innovation and community building.

AlienSwap’s rapid growth and success in the NFT market have caught the attention of OKX Ventures, which is keen to support promising projects in the crypto space. With this new funding, AlienSwap is well-positioned to take advantage of the growing demand for NFTs and build a strong community of users and creators.

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