Fastex, an emerging Web 3 ecosystem, has raised $23.2 million in funding at a token generation event and sold over 10 million tokens in private and public sales of its utility token, Fasttoken (FTN).
Fastex has announced that it has successfully raised $23.2 million at a token generation event from Fasttoken (FTN), the official utility token on the platform. Funding was raised from Phase 2 of Fasttoken’s private sale, with prominent Web 3 strategic investors and venture capital firms participating in the funding round. After successfully attracting strategic investors, the token sale was also opened to the public on January 18, with 10 million tokens sold and well over $3 million in funds raised in less than three days.
According to the team, the new cash inflow will be used to accelerate the development and growth of the Web3 ecosystem, build new features and products, and expand existing operations. The Fastex Ecosystem is an all-in-one portfolio that includes Fastex Chain, ftNFT Marketplace, Fast Pay, Fast Ticket, and it’s novel gaming metaverse, Fastex Verse.
A private investment round will be launched in December 2022 for partners and strategic investors to acquire his FTN for a limited time at a discounted price of €0.25 and up to €400,000 stake per investor. I was Fastex completed his TGE in less than 2 months and less than 3 days, and public investors showed great interest in investing in the token. A total of 10 million of his FTN tokens were released during the general sale for €0.35 per token, with a contribution of up to €1,000 per investor.
Fasttoken (FTN) is built on the Fastex Chain, a public EVM chain that offers various DeFi tools to support everything from trading, staking, borrowing, lending, and more. The token is the parent utility token of the Fastex Web 3 ecosystem, powering all products and services that work with Fastex. The introduction of the Fastex chain opens up multiple possibilities as tokens can be used for staking and block verification, securing the entire network through an innovative Proof of Stake Activity (POSA) consensus.
Additionally, with a unified FTN wallet, users will only have to submit their KYC details once to gain access to the full spectrum of on-chain applications in the Fastex Web 3 ecosystem.
His relationship with SoftConstruct, a network in contact with over 40 million customers, has also proven to help grow the FTN community organically. So far, the growth of the Fastex ecosystem has been impressive, with over 100 game developers and providers collaborating to leverage his FTN for their game titles, and SoftConstruct co-founder Vigen Badalyan. Excited.
“Our goal has always been to bring the benefits of web3 to our players and gaming partners, and we are focused on making that happen,” said Vigen Badalyan. “We are also very grateful to our 100+ game partners who have chosen to adopt Fasttoken as their in-game token.”
Fastex has a wide range of partners in the Web 3 industry including Radix, FeedConstruct, uCraft, and MLG Blockchain. The blockchain has also been audited by his three external audit firms including CertiK, Hexens, and Fact Group. The company is planning several events around the world to educate people about Web 3. In the coming months, Fastex will be visiting multiple locations around the world, including London, India, and Dubai.