NFT Investments, an investment company specializing in non-fungible tokens and established by the co-founders of $1bn 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, UK.
The flotation is expected to value NFT Investments at approximately £25m 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 £10m 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.
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.
Net proceeds of the IPO will be used to identify and carry out due diligence on potential investments and to provide working capital for the Company’s initial operations in line with its acquisition and investment strategy. The Board expects to be able to develop its business substantially within 12 months of admission to AQSE.
The board of directors and investment committee includes Jonathan Bixby (Executive Chair) 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 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.”