Wasabi, a platform for trading futures on memecoins and NFTs, has secured $3 million in funding led by Electric Capital. This seed round, also supported by Alliance, Memeland, and Spencer Ventures, concluded in February 2024.
The funds will expand the team from six to ten members, focusing on hiring engineers and a COO. Available on Ethereum and Blast, Wasabi sees higher user activity on Blast, engaging over 18,000 traders who have generated more than $500 million in trading volume since January.
With a Total Value Locked (TVL) exceeding $109 million, Wasabi is making a significant impact in the DeFi sector. This funding round underscores its potential to drive the future of crypto trading, particularly in niche markets like memecoins and NFTs.
