NIFTY Souq secures $1.5mln investment

NIFTY Souq secures $1.5mln investment

- NIFTY Souq is the first and largest NFT platform in the region

- They’ve raised $1.5 million investment in their first round of investment

- Investments from Palm Ventures, Falak Investment Hub and angel investors

NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million in seed investment as they look to expand the Arab world’s first NFT platform.

The UAE-based company secured the funding in their first round of seed investment. Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the United states of America.

The seed-fund investment will be used on tech updates and the platform's expansion, says Talal Afghani, NIFTY Souq’s Co-founder.

Mr. Afghani said. “We are thrilled with this investment which enables NIFTY Souq to further enhance and improve what is already the MENA region’s leading NFT Marketplace. This fund is a vote of confidence from our investors in our vision and gives us the resources to deliver on our roadmap.”

In 2021 the global NFT market was valued at $15.7 billion and is expected to reach $122.43 billion by 2028, with a CAGR of 34.10%

As the first and largest NFT marketplace in the