NFT Investments, a company specialising in the identification, acquisition, investment, and development of non-fungible tokens (NFTs), has announced it has made its maiden investment by acquiring a stake in AEON International, a developer of cutting-edge technology for the luxury fashion industry.
The company has invested $1m in AEON in an oversubscribed private round. NFT Investments joins an exclusive club of existing investors including a NYSE listed Chinese ecommerce giant which has a significant stake.
This is the first investment made by the company since its flotation on the AQSE Growth Market on 16 April 2021.
Based in Hong Kong and operating across Europe, the US and Asia Pacific, AEON uses sophisticated digital solutions to support and innovate supply chain processes in the luxury fashion industry.
It has an extensive list of tier one luxury labels and preeminent fashion houses as clients, including but not limited to Louis Vuitton, Givenchy, Balmain, Balenciaga, Gucci, Chloe, Alexander Wang, Michael Kors and many others.
Under its business division AUTHENTIQUE, AEON’s offering includes NFT based verification technology that is being used to strengthen product authentication for designer goods and combat luxury counterfeiting.
AEON is supported by an experienced management team and is led by fashion industry veteran Simon P Lock. Simon is the founder of Australian Fashion Week and former SVP & MD of IMG Fashion & Models and has been at the cutting edge of digital innovation in the industry globally for 20 years.
Jonathan Bixby, Executive Chairman of NFT Investments, said: “AEON is a pioneer in fashion technology that is leading the way in demonstrating the concrete benefits that NFTs can bring the fashion industry. The market opportunity for NFTs in the industry is huge, beyond using NFTs to establish digital ownership and verify the transfer of luxury products, AEON is also advancing the frontier of digital-first fashion products using NFTs. We expect this to be a growing future market and are delighted to support AEON alongside a roster of high calibre investors.
“NFT Investments’ DNA and growth is based on digital currencies and assets, so it is perfectly appropriate that our team is showing its conviction in the long-term value of crypto by receiving their emoluments in cryptocurrencies. I am delighted to be a part of the first company worldwide to achieve this milestone.”
Simon P Lock, Founder, CEO and Executive Chairman of AEON, said: “NFTs are set to revolutionize luxury goods authentication. Counterfeiting is the enemy of luxury brands, eroding brand value, revenue and profitability. We look forward to applying NFT technology to this space as well as supporting the emerging digital-first fashion category in which NFTs will play an enormous role.”