ShoeFy Funds $3.65M to Increase DeFi Utility Layers on NFTs - Forex News by FX Leaders
ShoeFy Funds $3.65M to Increase DeFi Utility Layers on NFTs

ShoeFy Funds $3.65M to Increase DeFi Utility Layers on NFTs

Posted Friday, October 15, 2021 by
Sophia Cruz • 2 min read

ShoeFy is a visionary NFT protocol with a cutting-edge platform that syncs non-fungible tokens (NFT) and fungible tokens (FT), using revolutionary Defi tools, in order to maximize profits. ShoeFy aims to magnify the potential of NFTs by incorporating both holding and farming, to produce passive income.

ShoeFy has two tokens; SHOE (ERC-20) and sNFT (ERC-721). SHOE is the native token of ShoeFy. It utilizes payments and serves as a governance token on the blockchain. sNFTs are algorithmically generated genuine digital pairs of shoes on the platform. Each sNFT is distinctive, randomly generated from a collection of 10,000 digital shoes, powered by the four elements, to create a decentralized platform. SHOE token collectors are named Shoebeasts. 

Future Collaborations

ShoeFy will dive into different network projects, including gaming and collectibles, and establish the presence of digital kicks in the metaverse. This project is supported by a team of well-experienced blockchain venture capitalists, imaginative NFT developers, and top-selling marketing experts, all the way from Europe to Canada, and into Thailand and South Korea in Asia.

As per reports, ShoeFy has garnered a $3.65 million round of fundraisings from investors, including Moonwhale, ExNetwork, DuckDao, AU21, basics Capital, Sutch Crypto Investors, and more. After it was announced, all four rounds were speedily closed. Still, there are two rounds left; community rounds with an allocation of $800k, and the last allocation of $250k for public rounds. The allocated funds will be shared through a whitelisting of ShoeFy’s website. This will be used to enable utilization of additional utility layers for NFT, through the use of their Defi toolset, which was devised for generating passive income. 

The ShoeFy Community round commenced on Oct 11, beginning with PolkaBridge, which was sold out in just three minutes. Following this success came the remarkable IDOs on Moon Starter and MultiPad. Moonstarters was sold out in less than a minute, while MultiPad was sold out in less than five seconds. The next IDOs will be held on Duckstarter, KwikStarter, Oxbull, TruePNL and Gate.io. With this unbelievable support and adoption, there is no doubt that this NFT project will soon be the next big thing in the NFT space.

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