Amid a challenging NFT market, Infinex’s new non-fungible token (NFT) collection, Patrons, has reached $67.7 million in investments in just six weeks. This impressive milestone reflects the strength of quality-backed NFT investments, even as other collections see declining values. Backed by Peter Thiel’s Founders Fund, the Patrons collection has proven itself as a high-value NFT collection for sale, even in a bearish market.
As a non-custodial platform, Infinex is pioneering what it calls the “post-CEX era,” a vision of decentralized NFT investments that move away from centralized exchanges. Unlike traditional NFT marketplaces, Infinex provides easy access to on-chain protocols and decentralized applications (DApps), making it a unique platform for NFT collections. As more users explore the meaning of NFTs in finance, platforms like Infinex offer innovative ways to interact with digital assets.
Beyond Thiel’s Founders Fund, Infinex is backed by several notable players in the crypto venture capital space, including Solana Ventures, Variant Fund, and Wormhole. This blend of NFT funding and venture capital has positioned Patrons as one of the most exciting upcoming NFT collections, capturing the attention of both seasoned investors and newcomers who are learning about NFT meaning and market opportunities.
On October 28, Infinex announced that Patrons NFTs are now unlocked, allowing holders to sell on popular NFT marketplace websites like OpenSea. For those wondering where to sell their NFTs or looking to invest, this provides a prime opportunity to engage with the collection. The floor price of Patrons NFTs is set at 1.22 ETH (around $3,086), making it accessible yet valuable for NFT market enthusiasts and collectors.
The success of Patrons stands in stark contrast to the NFT market as a whole, which has seen many large collections like CryptoPunks and Bored Ape Yacht Club (BAYC) experience steep declines. For context:
CryptoPunks: Once the leader of Ethereum-native NFTs, CryptoPunks now holds a floor price of 26 ETH (around $65,000). This represents a decline of over 76% from its October 2021 peak of 113 ETH, valued then at approximately $285,000.
Bored Ape Yacht Club (BAYC): Once worth a floor price of 128 ETH (valued at about $322,000), BAYC has fallen over 91% and currently trades at 11.5 ETH, worth roughly $29,000.
Despite the downturn, Ethereum remains the leader in NFT sales volume, reaching $119.8 million over the past 30 days. Bitcoin follows closely with $67 million in sales volume, according to recent data from CryptoSlam. However, Ethereum’s total NFT sales volume dropped 34% over the last month, highlighting ongoing market challenges.
Infinex’s Patrons collection shows there is still strong interest in innovative NFT projects, even during a market slump. With support from Peter Thiel’s Founders Fund and a focus on on-chain engagement, Infinex is well-positioned for continued growth. As the NFT landscape shifts towards the “post-CEX era,” Infinex’s success may signal the potential for quality-driven, non-custodial projects to shape the future of digital assets.
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