NFT Investments has launched its flotation on the AQSE Growth Market of the London Stock Exchange.
Established by the co-founders of Argo Blockchain plc, Jonathan Bixby and Mike Edwards, the company was set up to invest in non-fungible tokens or companies or funds that have exposure to NFTs and blockchain technology.
NFTs are unique, blockchain-based digital tokens which people can purchase to ‘own’ digital creations, such as digital art, video game items and music.
The substantially oversubscribed share placing raised £35 million before expenses for the company, more than three times what was initially planned and with an order book of demand significantly in excess of £100m.
The placing set a new record amount to be raised on AQSE and was increased in response to investor demand. It values NFT Investments at a market capitalisation of approximately £50m.
“NFT Investments’ admission to the AQSE Growth Market marks a significant milestone for the non-fungible sector,” said Executive Chairman Bixby.
“Our record-breaking raise on AQSE provides a strong foundation on which the company can execute its long-term growth strategy and capitalise on its first-mover advantage.
“We are delighted with the strong support we have received from a wide range of investors and our oversubscribed placing is a real endorsement of our investment plans in a promising market set for growth.”
The company said it 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 purchased and licensed by the company.