NFT investment firm aims for listing on London Stock Exchange
NFT Investments aims to increase its company valuation to US$35 million with this move.
A non-fungible tokens (NFTs) investment firm is looking to raise investment capital worth £10 million ($13.7 million) by listing on the UK’s Aquis Stock Exchange Global Market, Reuters reports.
The company, called NFT Investments, was launched by co-founders of mining company Argo Blockchain.
NFT Investments describes itself as a Bitcoin Union crypto art investment vehicle in that the crypto investment fund specialises in non-fungible tokens. The investment firm hopes the listing will increase its own company valuation to £25m, or $34.4m.
The NFT market has experienced a real hype in recent months, which is why even crypto artworks were sold for up to 70 million US dollars recently. The industry has now grown to a market value of more than half a billion dollars.
At a fundamental level, non-fungible tokens are crypto tokens just like Bitcoin (BTC) and many other cryptocurrencies, but NFTs are conceptualised to literally have low fungibility. NF tokens are often unique and cannot be reproduced, which makes them particularly suitable for securitising digital art and digital collectibles. Many artists therefore make use of the technology, and immortalise their works as NFTs on the blockchain.
However, there is also criticism of thae current boom in the sector
Ethereum co-founder Vitalik Buterin, for example, believes that the market is merely a playground for celebrities and the rich. Another crypto expert, on the other hand, predicts that the NFT hype will „eventually die down“, but that the associated technology will continue its triumphant march and find even more important areas of application.