Crypto exchange MNX takes on OKX, BitGet offering pre-IPO futures for AI giants
Crypto exchange MNX has launched pre-IPO futures contracts for private AI companies like OpenAI and Anthropic. The platform aims to provide liquidity for shares that are typically difficult to price and trade.
Why it matters
This development attempts to bridge the gap between traditional private equity and liquid crypto markets, allowing traders to speculate on the valuation of high-growth AI firms.
MNX, which was developed by Manifold Markets, went live on Tuesday offering futures contracts tied to OpenAI, Anthropic, DeepSeek and Moonshot. The platform, built on MegaETH blockchain, raised $6.4 million from investors led by Village Global in June.
Larger crypto exchanges, including OKX and Bitget, already offer contracts that let traders bet on the value of private AI companies without owning their shares.
Unlike Bitget’s perpetual futures which never expire, MNX offers contracts with expiration dates at the end of 2027 and incur no recurring funding fees. OKX also offers contracts with no expiration dates, but uses a different funding mechanism.
The investment is a bet that financial markets have yet to catch up with the enormous amounts of money flowing into artificial intelligence, according to Village Global.
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