Following the completion of its private and public sales of Fasttoken (FTN), the Fastex Web3 ecosystem company Fasttoken, which was incubated by SoftConstruct, has successfully raised $23.2 million. FTN, which is the official cryptocurrency of the Fastex ecosystem, was made available to the general public on January 18, during a token generation event that was completely sold out in just three days. An important sale of FTN to private investors happened just before it.
FTN is the driving force behind Fastex’s Web3 economy, which will also feature ftNFT, a marketplace for NFTs; Fastex Pay, a platform for accepting cryptocurrency payments; FastexVerse, a gaming Metaverse; and aFastex Exchange, a spot trading platform. More than 100 gaming providers have already collaborated with Fastex, and it is anticipated that FTN will play a critical role in the operation of the GameFi titles they offer.
SoftConstruct Co-Founder Vigen Badalyan said: “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. We are also immensely grateful to the more than 100 gaming partners who have chosen to adopt Fasttoken as their in-game token.”
A Utility Token for Fastex’s Web3 Products & Services
Fastex is an all-inclusive gaming ecosystem that combines an EVM public chain with a set of DeFi primitives to support trading, saving, and everything in between. Users with unified wallet accounts simply have to provide their KYC information a single time in order to gain access to the entire suite of on-chain applications.
FTN is going to be the utility token for all of the Web3 products and services that are going to be running under the Fastex banner. This includes both B2C and P2P payment solutions. The launch of Fastex Chain will make it possible for FTN to be utilized for staking and block validation, thereby protecting the entire network by utilizing a revolutionary Proof-of-Staked-Activity (POSA) consensus.
Game developers can leverage FTN to power a wide variety of first-of-its-kind Web3 games with their creations. As mentioned earlier, over 100 different developers have already formed partnerships with Fastex, which gives FTN immediate utility as the native token within the games and applications that make up the Metaverse.
Players will be initiated into the realm of Web3 through FTN, which will serve as the gateway. In addition, FTN will allow staking as the native token of Fastex Chain, a Proof of Staked Activity blockchain solution. It will also facilitate the generation of blocks, validation methods, and rewards, all of which will contribute to the development of a highly secure environment for Web3 development.