The company, which targets investments in non-fungible tokens, plans to list on the Aquis exchange growth market with a market cap of Â£ 25million.
, a non-fungible token-focused company founded by the co-founders of the cryptocurrency mining group (), announced its intention to list in the Access segment of the growth market of the Aquis London stock exchange later this this month.
Non-fungible tokens (NFTs) work effectively as blockchain-based digital certificates of authenticity for a digital artwork or other creative work, allowing the owner of the NFT to claim ownership of the original creation even if it has been copied. So far this year, NFTs of Tweets, digital artwork, and memes have auctioned for millions of dollars.
READ: Non-fungible tokens: what are they and why are they the new trending crypto asset?
The company said it plans to raise around Â£ 10million by placing 200million shares priced at 5p each, adding that its market value at issue is expected to be around Â£ 25million. . The proceeds of the initial public offering will be used to identify potential investments and provide working capital for its initial operations.
âThe company considers that there is a significant potential market for the NFT industry to emerge globally and take market share from the current collectables industry,â the company said, noting that the volume NFT trading to date stands at over US $ 500 million and the market is expected to grow over the long term.
NFT Investments aims to invest directly in NFTs as well as in companies or funds exposed to NFTs and blockchain technology. He expects his business to “grow significantly” over the next 12 months.
Along with the involvement of Argo co-founders Jonathan Bixby and Mike Edwards, the company’s advisory board also includes Mack Flavelle, the co-founder of Crypto Kitties, considered by many to be the original NFT, as well as Nolan Bushnell, the founder of video game group Atari.
Bixby, who is the executive chairman of the company, said in a statement, “I am incredibly pleased to lead the world’s first pure NFT vehicle to be publicly traded.”
âOur team of blockchain and creative experts is truly world class and we look forward to creating value for our shareholders in this exciting and growing space. We believe that NFTs will be the backbone of the digital collectibles markets and that owning the best individual assets and underlying rights can create immense value for our shareholders, âhe added.