Published
1 year ago on
January 29, 2023
Fasttoken (FTN) is the main utility token on the Fastex ecosystem, a comprehensive Web 3.0 platform offering payment OPTIONS, trading services and a community-centric and integrated NFT marketplace.
Lithuanian-licensed web 3 ecosystem, Fastex secures a $23.2 million capital raise from a successful token generation event (TGE) through an offering of its official utility token, Fasttoken (FTN), to both private and public investors. A statement released Friday confirmed that the public sale, which launched on January 18 and sold out on January 20, targeted a hard cap investment of ~$3.5 million from the sale of 10 million FTN tokens. The capital injection will be used to advance the features and products offered in the Fastex ecosystem, accelerate the development of their exchange, and grow their global community base.
Fasttoken is part of the Fastex Web 3 ecosystem, incubated by SelfConstruct, a leading tech giant providing IT solutions in various fields including gaming, AR, VR, and Web 3.0. The FTN token ushers in a new era of Fastex’s ecosystem providing utility across the platform and powering everything under Fatex’s arm.
Fastex features a web of applications and features including Fastex exchange, which allows users to trade several cryptocurrencies with low fees; FatexVerse, a gaming metaverse showcasing branded virtual rooms, art, NFTgalleries, and much more; ftNFT, an NFT marketplace to create, buy and sell digital art; and FastexPay, a crypto payment provider that offers online and offline solutions for various businesses. FastexPay is currently still in development.
With the fresh capital in hand, Fastex aims to boost its partnerships and accelerate the development of its ecosystem. Under SoftConstruct’s arm, Fastex is exposed to millions of people in the parent’s company vast network and is accessible to 1 million active users and 700 partners across 20 platforms. So far, Fastex has witnessed an organic growth of its partners, with more than 100 gaming providers choosing to integrate the FTN as their in-game utility token, showing its value in the real world.
“We’re excited for the next phase of growth for Fasttoken and the Fastex ecosystem. Our goal has always been to bring the benefits of web3 to game players and our gaming partners and we’re laser-focused to make that happen,” SoftConstruct Co-Founder Vigen Badalyan said. “We are also immensely grateful to the more than 100 gaming partners who have chosen to adopt Fasttoken as their in-game token.”
As alluded to, FTN will serve as a utility token across the web of applications on the Fastex network including its B2C and P2P payment solutions and the Fastex Ticket, an RNG-regulated raffle. Additionally, FTN will be used in DeFi transactions and activities within the ecosystem including staking, trading, saving, and block validation, which helps secure the Fastex Chain via the Proof-of-Staked-Activity (POSA) consensus, which is patent pending.
Finally, FTN holders can participate in SoftConstruct Crypto Reward Program (SCRP), enabling users, affiliates, operators, and other partners to become eligible for exclusive benefits within the SoftConstruct network, based on their daily activity.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
