NFT Investments, an investment company specialising in the non-fungible token (NFT), has raised $48 million (approx £35 million), more than three times initially planned, for its flotation on the Aquis Stock Exchange Growth Market (Access segment), valuing the Company at a market capitalisation of £50 million.
The company initially planned to raise £10 million, however, it has reportedly doubled the target to £20 million.
Issues 400 million shares
As per the company, this move comes in response to strong investor interest. Due to the strong demand, the Company has now completed the placing of 700 million new ordinary shares at 5p each and expects to start trading on the Aquis Stock Exchange on April 16.
The company is being advised by First Sentinel Corporate Finance and its joint brokers are Novum Securities and Tennyson Securities.
Invest in NFTs
Established by the co-founders of Argo Blockchain plc, Jonathan Bixby and Mike Edwards, NFT Investments was set up to invest in NFTs directly and in companies or funds that have exposure to NFTs and blockchain technology.
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.
Jonathan Bixby, Executive Chairman of NFT Investments, said: “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 democratise access to this hard-to-reach market.”