Fladgate has advised NFT Investments PLC (“NFT Investments”), an investment company specialising in non-fungible tokens ("NFTs"), on its admission to the AQSE Growth Market (AQSE) on 16 April 2021.
The Company was admitted to the Access segment of the AQSE following a substantially oversubscribed share placing that raised £35 million before expenses for the Company, more than three times what was initially planned and with an order book of demand significantly in excess of £100m.
This is a crypto industry first with NFT Investments being the first pure-play investment company focused exclusively on investing in NFTs to launch on a stock market in a major jurisdiction worldwide. NFTs are one of the latest developments in blockchain technology and they have taken the art world by storm with record-breaking sales of digital art in recent months. Each NFT is a unique token on a blockchain, but unlike crypto, they store extra information which provide collectors the opportunity to build a digital collection where each item can be traced back to the original issuer. Because of this, NFTs are increasingly used in applications that require unique digital items such as crypto art and digital collectibles
Corporate partner, David Robinson says: “With experts predicting the NFT industry’s continued fast-pace growth and hundreds of millions of pounds exchanging hands, this is an exciting venture for our client and we were delighted that the placing set a new record amount to be raised on AQSE.”
The Fladgate team comprised partner David Robinson, supported by associate David Lee and trainee Isha Wurie.