The company, aiming to make a Non-Fungible token (NFT) investment, plans to list it in the Aquis Exchange growth market with a market value of 25 million pounds.
NFT Investments PLC, an immutable token-focused firm founded by the founders of the cryptocurrency mining group Argo Blockchain PLC, announced its listing plans in the Access segment of the Aquis Exchange Growth Market in London this month.
Non-exchangeable tokens (NFTs) effectively function as digital, blockchain-based certificates of authenticity for a piece of digital art or other creative work. In addition, NFT allows its owner to claim ownership of the original work, even if it has been copied. So far this year, various tweets, NFT forms of digital artworks have been auctioned for millions of dollars.
The company said it plans to raise about £ 10 million by dividing the 200 million shares by the price of 5p each, and the market value in the flotation is expected to be around £ 25 million. The proceeds of the initial public offering are planned to be used to identify potential investments and provide working capital for their initial operations.
The company sees the NFT industry as a huge potential market to emerge globally and gain market share from the current collections industry, and it has been highlighted that the volume of NFT trading amounts to over $ 500 million so far. In addition, entrepreneurs expect the market to grow in the long run.
NFT Investments also aims to invest directly in companies or funds investing in NFTs and blockchain technology. It expects business scopes to “improve significantly” over the next 12 months.
The company’s advisory board includes Argo co-founders Jonathan Bixby and Mike Edwards, as well as Mack Flavelle, co-founder of Crypto Kitties, considered by many to be the original NFT, and Nolan Bushnell, founder of legendary video game company Atari. .
Bixby, the company’s chairman, said in a statement:
I am incredibly excited to lead the listing of the world’s first pure gaming NFT tool in a public marketplace.
Our team of blockchain and creative experts is truly top-notch and we look forward to creating value for our shareholders in this exciting and growing field. We truly believe that NFTs will form the backbone of digital collectibles markets and that having the best individual assets and basic rights will create tremendous value for our shareholders.