NFT Investments, an investment company specialising in non-fungible tokens (NFTs) and established by the co-founders of $1billion market cap Argo Blockchain plc, has announced its intention to apply for admission of its Ordinary Shares to trading on the Access segment of Aquis Stock Exchange Growth Market (AQSE) in London.
The flotation is expected to value NFT Investments at approximately £25million and make it the first-ever investment company focused exclusively on investing in non-fungible tokens to launch on a stock market in a major jurisdiction worldwide.
The company plans to raise approximately £10million before expenses by way of a placing of 200 million ordinary shares at 5p each through First Sentinel Corporate Finance, the company’s corporate adviser, and joint brokers Novum Securities and Tennyson Securities. First dealings in the shares are expected to commence later this month.
An NFT is a special, one-of-a-kind crypto asset that enables collectors to authenticate, own and trade original authenticated versions of unique digital goods on the blockchain. NFTs open an entire world of digital collecting and democratise the process by allowing the creators of digital tokens, typically an artist, digital creator or celebrity, to receive a crypto payment each time their work is traded. As well as being scarce and unique, NFTs provide a transparent chain of custody between the creator and the holder of the token adding a level of protection to collectible assets.
NFT Investments was set up to invest in NFTs directly and in companies or funds that have exposure
to NFTs and blockchain technology. The company anticipates that returns to shareholders will be
delivered through an appreciation in the value of its portfolio of NFTs and in the underlying
cryptocurrencies as well as the digital NFT rights that are purchased and licensed by the company.
The company considers that there is a sizable potential market for the NFT industry to emerge globally and take market share from the current collectables industry. The volume of NFT trade amounts to date is over $500million, with$240million taking place in March 2021. Already other areas outside of digital art and collectables have started to expand rapidly, such as celebrity NFT digital rights, virtual land, video game assets and NFT-backed loans. The Board anticipates that the NFT market will continue to grow over the long term with NFTs becoming a key underlying asset for the whole virtual economy.
Jonathan Bixby, Executive Chairman of NFT Investments, said: “I am incredibly excited to be leading
the world’s first pure-play NFT vehicle to list on a public market. Just like when our team brought Argo
Blockchain to the London market, we have a vision of creating an on-ramp from fiat into 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 truly believe that NFTs will
form the backbone of the digital collectables markets and owning the best individual assets and
underlying rights can create immense value for our shareholders.”