UK entrepreneurs prepare for NFT Company IPO

UK entrepreneurs prepare for NFT Company IPO

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According to Bloomberg, crypto entrepreneurs are planning an IPO for their unique token (NFT) investment firm. Cryptocurrency entrepreneurs Jonathan Bixby and Mike Edwards founded and acquired publicly traded companies on cryptocurrency mining and esports. The entrepreneurs ' new investment plan was the NFTS.

NFT Investments has been set up to invest in unique blockchain-based digital tokens, and the company is scheduled for an initial public offering on the UK's Aquis Stock Exchange later this year, the company said yesterday. The deal, which will value the company at £ 25m (£282m),will also create the first listed company in the sector.

It will start trading this month

Taking over these digital assets is a laborious process with uncertain tax consequences, according to Bixby, Chairman of NFT investments. Bixby and NFT Investments board member Edwards founded Argo Blockchain Plc, a Bitcoin mining company that was once little known and boosted by the cryptocurrency rally, up 7 percent last year. In addition, the duo founded Guild Esports Plc, which went public in October and included soccer star David Beckham among its investors.

NFT Investments plans to raise £ 10m before spending, with the stock set to start trading this month. Bixby said the company plans to invest in “collections, infrastructure and creators ' digital rights, such as Sunday locations for NFT trading,” adding that it plans to raise additional money in its ongoing offerings 12 months later.

Corporate funds remain largely on the sidelines, although some high-net-worth individuals and individual investors see NFTS as the next investment spree. Ulrich Urbahn, head of multi-asset strategy and research at Berenberg Bank, said: "tokens are interesting, especially for some applications in the arts, but at the moment they cannot be invested for the wider investment community." said.

Recent notable NFT sales

NFT artworks have recently come to the agenda with the introduction of many artists, mainly Visual Arts. NFT works, which came to life with Blokzincir technology, were implemented in painting, music, sports and many different fields. A street artist known for his anti-system murals, Banksy's 2006 work "Morons", which was criticized by auction houses, burned and turned into an NFT, and the work was purchased for a hundred thousand dollars. On the other hand, Graphic Designer Mike Winkelmann's collection, known as Beeple, spanning 14 years, created in 5 thousand days, recently sold for $ 69 million. Many names from Turkey have also announced that they are involved in the field of crypto art. The weekly humor magazine sleepless magazine, founded in 2007, reported that at the end of February some of its illustrators would turn their works into a digital collection. In the same month, world-famous footballer Mesut Ozil entered the NFT world with his unique token-based animated avatar.

Michelangelo's creation of Adam's fresco was presented in the form of NFT in February, as Murat Pak, the world's second-highest-grossing crypto artist, tore the work to pieces.

He turned a column of the New York Times ' Tech Columnist column into the NFT. The auction, which began on March 24, ended a day later. The column was sold for 350 ETH with a value of over 550 thousand dollars.

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