According to Cointelegraph, Infinex founder Kain Warwick said that Patron NFT sales could become a new model for launching new crypto projects, avoiding unfair competition from traditional venture capital.
Warwick believes the current venture capital model has âdistorted incentivesâ where wealthy investors get much better deals than others.
Infinex is stimulating community interest in its vision by issuing Patron NFTs to the public, including venture capital firms and retail investors.
Infinex aims to become the main touchpoint for new and existing crypto users, replacing crypto exchanges.
Ultimately, Infinex raised $65.3 million through the Patron NFT sale, with participants including Wintermute Ventures, Framework Ventures, Near Foundation, and others.
Despite market prices near their late 2021 highs, crypto project funding has been just under $3 billion per quarter this year, well below the $12 billion raised in both the fourth quarter of 2021 and the first quarter of 2022.
