Galaxis Secures $10M Pre-Token Launch Funding

Galaxis, a post-hype NFT platform, has secured $10 million in funding ahead of its token launch. Notable investors include Chainlink, Ethereum Name Services (ENS), and Rarestone Capital. Galaxis aims to expand NFT use beyond digital art and has sold over 225,000 NFTs in the past two years. The platform is preparing for "mass distribution" and plans to leverage its native token, GALAXIS, to power its ecosystem. Bybit, a major cryptocurrency exchange, will host an IDO for Galaxis on its Web3 platform, allowing investors to purchase GALAXIS tokens through liquidity pools.

Galaxis Secures $10 Million Funding Ahead of Token Launch

Singapore, May 3, 2023 - Galaxis, a post-hype NFT utility platform, has successfully raised $10 million in funding ahead of the launch of its native token, GALAXIS. The funding round was led by industry heavyweights Chainlink, Ethereum Name Services (ENS), and Rarestone Capital.

Expanding the Utility of NFTs

Galaxis aims to unlock the broader potential of NFTs beyond their current focus on digital art. The platform empowers creators and brands to launch non-fungible token (NFT) collections, enabling them to engage with their communities and reward their loyalty through innovative mechanisms.

Notable Collaborations and Successes

Galaxis has collaborated with renowned celebrities such as DJ Steve Aoki, actor Val Kilmer, and NBA star LaMelo Ball. Within the past two years, the platform has witnessed remarkable success, having sold over 225,000 NFTs and generating over 32,000 ETH in secondary NFT sales.

Plans for Mass Distribution

The platform now intends to embark on a "mass distribution" strategy, according to the company. CEO and co-founder Andras Kristof believes that the integration of the GALAXIS token into the platform's ecosystem will enhance its functionality and expand its reach.

Post-Hype Utility Platform

Kristof emphasizes Galaxis's status as a post-hype NFT utility platform, highlighting the belief that NFT technology possesses intrinsic value beyond the speculative frenzy. He envisions NFTs extending their impact to various sectors beyond Web3.

Collaboration with Bybit for IDO

Galaxis has partnered with Bybit, a leading cryptocurrency exchange, to conduct an Initial DEX Offering (IDO) for its token on Bybit's Web3 platform. An IDO involves fundraising through decentralized exchanges, offering greater decentralization than traditional ICOs.

IDO Details

The Bybit IDO subscription period commenced on May 3rd and will conclude on May 7th. The token distribution and listing are scheduled for May 10th. The token's symbol is "GALAXIS," and its total supply is capped at ten billion units. To participate, users require a Bybit wallet with at least 300 USDC on the Ethereum blockchain.

Alignment with Bybit's Vision

Emily Bao, Bybit Web evangelist, expressed her enthusiasm for Galaxis's vision, which resonates with Bybit's commitment to supporting innovative Web3 projects. Bao emphasized Bybit's dedication to fostering a connected, open, and equitable Web3 ecosystem.

Conclusion

Galaxis's $10 million funding and the upcoming IDO with Bybit underscore the platform's potential to revolutionize the NFT landscape and drive the adoption of Web3 technology for community engagement and rewards. The launch of the GALAXIS token is highly anticipated, and its integration into the ecosystem will be closely watched as Galaxis continues to push the boundaries of NFT utility.