Argo Blockchain executives set up NFT investment company and plan to list in London

Source: Daily Planet

summary:

- Executives at publicly traded bitcoin miner Argo Blockchain now plan to list their new NFT investment firm in London.

- NFT Investments plans to raise £10 million (about $14 million) through its IPO.

Executives at UK-listed bitcoin miner Argo Blockchain are now betting on the nascent market through their newly formed NFT investment firm.

The company, NFT Investments PLC, was founded on March 3 by Argo co-founders Jonathan Bixby and Mike Edwards and is planning to list in London.

NFT Investments plans to issue 200 million ordinary shares on the niche Aquis Stock Exchange Global Market (AQSE), aiming to raise approximately £10 million (approximately $14 million).

The company said its IPO would value it at £25 million ($34.5 million), making it the first NFT investment firm to go public.

“I’m very excited to lead the world’s first purely NFT-focused investment firm to go public,” said Bixby, Executive Chairman of NFT Investments. “Just as our team did when Argo Blockchain went public in London, our vision is to create an on-ramp from fiat into this exciting new space.”

NFT Investments will invest exclusively in NFTs and companies or funds with exposure to NFTs and blockchain technology. NFTs are digital certificates tied to unique works of art. In recent months, NFTs have become popular and their popularity has skyrocketed.

The NFT Investments team believes that in the long run, the NFT market will continue to grow and NFT will become "a key underlying asset for the entire virtual economy."

“We truly believe that NFTs will become a mainstay of the digital collectibles market and owning the best individual assets and fundamental rights can create tremendous value for our shareholders,” Bixby explained.

The company’s advisors include Argo CEO Peter Wall and COO Sebastian Chalus, as well as other crypto and fintech executives. NFT Investments’ board hopes to “substantially grow” its business within 12 months of being admitted to the AQSE.

"The net proceeds from the IPO will be used to identify and conduct due diligence on potential investments and to provide working capital for the company's initial operations in line with its acquisition and investment strategy," NFT investments said.