Peter Thiel's Founders Fund invests in Infinex's Patron NFT sale as total amount raised hits $67.7 million
Quick Take
- Founders Fund has invested in Infinex’s new “patronage” fundraising model, which sold Patron NFTs to venture capitalists, angel investors and the community.
- The Patron NFT sale completed on Monday, with a total of $67.7 million raised.
Peter Thiel’s Founders Fund was unveiled as an investor in Infinex’s new “patronage” fundraising model on Monday, as the sale officially closed.
The fundraising model, which sold Patron NFTs to venture capitalists, angel investors and the community, raised a total of $67.7 million, according to Infinex. Other venture capital firms participating in the sale include Wintermute Ventures, Framework Ventures and Solana Ventures, alongside angel investors such as Ethereum co-founder Vitalik Buterin, Solana co-founder Anatoly Yakovenko and Aave founder Stani Kulechov.
Some 43,244 Patrons were sold across Ethereum, Solana, Arbitrum, Base, Polygon and Optimism. On Monday, the NFTs were distributed to purchasers on the Ethereum blockchain and are now available to purchase via the OpenSea and Blur NFT marketplaces. Though access to the sale was staggered, every participant received the same price, allowing all participants to support the crypto project on the same terms.
Founded by Kain Warwick, Infinex is a decentralized exchange platform being developed by DeFi project Synthetix, designed to offer a user experience similar to centralized exchanges while operating on decentralized infrastructure. Infinex claims to have a current total value locked of $125 million.
“Infinex remains steadfast in its mission to 'accelerate the extinction of centralized exchanges,'” Warwick said in a statement shared with The Block. “Infinex’s vision is to simplify decentralized finance by creating a seamless, multichain user experience and providing the safest way to get onchain.”
Following the funding, the next stage in the platform's roadmap is expected to concentrate on reaching feature parity with centralized exchanges, incorporating spot trading, derivatives, fiat on-ramps and additional functionalities.
Disclaimer: Larry Cermak, CEO of The Block, also invested in the sale.
Disclaimer: Evgeny Gaevoy, the founder and CEO of Wintermute, previously sat on The Block’s board of directors from April 2023 to early November 2023 and remains a minority shareholder.
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