July 24, 2021

NFT investment vehicle set to go public in London

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A non-fungible token investment firm is gearing up to raise 10 million pounds ($13.7 million) by listing on the Aquis Stock Exchange Global Market, reports Reuters. 

Dubbed NFT Investments, the firm was launched by the co-founders of crypto mining company Argo Blockchain.

Described as an investment vehicle for unique digital artworks, NFT Investments expects the float to result in a company valuation of 25 million pounds ($34.4 million).

The NFT market exploded at the turn of the year, with some digital artworks selling for as much as $70 million dollars in recent weeks. The industry as a whole has now witnessed over half a billion in total volume in a little over three months.

Non-fungible tokens differ from typical cryptocurrency tokens like Bitcoin (BTC) in that they are designed to be unique, and not interchangeable with other tokens of their ilk. This makes them useless as transactional currencies, but valuable as signifiers of sole ownership. To date, works from any number of popular and artistic mediums have been transferred onto the blockchain as NFTs, including but not limited to drawings, paintings, computer-generated art, music and GIFsTitle: NFT investment vehicle set to go public in London
Sourced From: cointelegraph.com/news/nft-investment-vehicle-set-to-go-public-in-london
Published Date: Thu, 01 Apr 2021 09:54:00 +0100