NFT Investments, an investment firm specializing in non-fungible tokens and created by the co-founders of the $ 1 billion market capitalization Argo Blockchain plc, has announced its intention to apply for admission of its common shares to trading on the Access segment of Aquis Stock Exchange Growth Market (AQSE) in London, United Kingdom.
The issue is expected to value NFT Investments at around £ 25million and make it the very first investment firm focused exclusively on investing in non-fungible tokens to launch on a stock market in a major jurisdiction in the world.
The Company expects to raise approximately £ 10million before expenditure through a placement of 200 million common shares at 5p each through First Sentinel Corporate Finance, the Company’s corporate advisor, and co-brokers Novum Securities and Tennyson Securities. The first trading in the shares is expected to begin later this month.
An NFT is a special, one-of-a-kind crypto asset that allows collectors to authenticate, own, and trade original authenticated versions of unique digital goods on the blockchain.
NFT Investments was created to invest directly in NFTs and in companies or funds exposed to NFTs and blockchain technology. The Company expects that returns to shareholders will be generated by an appreciation in the value of its portfolio of NFT and the underlying cryptocurrencies as well as digital NFT rights which are purchased and licensed by the Company.
The net proceeds of the IPO will be used to identify and conduct due diligence on potential investments and to provide working capital for the initial operations of the Company in accordance with its acquisition and investment strategy. The Council hopes to be able to substantially develop its activity in the 12 months following its admission to the AQSE.
The Board of Directors and Investment Committee include Jonathan Bixby (Executive Chairman) and Mike Edwards (Non-Executive Director) – the co-founders of Argo Blockchain (ARB), Guild Esports (GILD) and Cellular Goods (CBX) , all listed on the London Stock Exchange.
Jonathan Bixby, Executive Chairman of NFT Investments, said: “I am incredibly pleased to lead the world’s first pure NFT vehicle to be publicly traded. Just like when our team introduced Argo Blockchain to the London market, we have a vision to create a Fiat ramp to this exciting new space. Our 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. “