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NFT investment firm to float in London

Thu, 1st Apr 2021 08:08

LONDON, April 1 (Reuters) - An investment vehicle for
"unique" digital products such as artworks said it will float in
London, in the latest sign of the investment craze for so-called
'non-fungible tokens'.

NFT Investments, established by the co-founders of
cryptocurrency firm Argo Blockchain, said on Thursday they
intend to raise around 10 million pounds ($13.77 million) by
floating on the niche Aquis Stock Exchange Global Market.

The firm said this would value it at 25 million pounds.

NFTs are a digital signature saved on blockchain ledgers
that allow someone to verify the ownership and authenticity of
items, with one artwork selling this month for nearly $70
million.

Sceptics have questioned how unique a digital artwork can
really be and warned NFTs could be another bubble waiting to
burst.

($1 = 0.7265 pounds)
(Reporting by Iain Withers; editing by Rachel Armstrong and
Jason Neely)

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