NFT Investments raises £35m through London listing
April 13, 2021, 8:08AM EDT
1 min read
An investment vehicle specializing in non-fungible token (NFT) investments has raised £35 million before expenses through a listing on the Aquis Stock Exchange Growth Market in London.
NFT Investments, which had initially targeted a raise of £10 million, claims the larger sum of money sets a record for the largest amount raised on the Aquis Stock Exchange (AQSE). The raise gives the company a market capitalization of £50 million, double the valuation it had sought at the start of April.
“It is deeply gratifying to receive strong interest from a wide range of institutional and private investors who share our belief in the vast growth potential for NFTs, just as the cryptocurrency sector has shown so far. We have upsized our offer to broaden and democratize access to this hard-to-reach market,” said Jonathan Bixby, executive chairman of NFT Investments.
The company’s shares will begin trading on the AQSE on April 16.
Incorporated on March 3 last year, NFT Investments was launched by the co-founders of Argo Blockchain, a London-listed crypto mining company valued at more than $1 billion.
Now jumping on the NFT bandwagon, Bixby told The Block in a recent interview that NFT Investments will take a three-pronged approach to investing in the space.
A third of its funds will be spent buying, selling and storing NFTs from the gaming and art sectors; a third will be invested into infrastructure firms, such as Dapper Labs and Rarible; with the final third spent on acquiring the NFT-linked digital rights of celebrities.