NFT Investments raises £35m through London listing

A recently formed investment vehicle specializing in non-fungible token (NFT) investments has raised £35 million before expenses through a listing on the Aquis Stock Exchange Growth Market in London.

NFT Investments, which had initially targeted a raise of £10 million, claims the larger sum of money sets a record for the largest amount raised on the Aquis Stock Exchange (AQSE). The raise gives the company a market capitalization of £50 million, double the valuation it had sought at the start of April. 

“It is deeply gratifying to receive strong interest from a wide range of institutional and private investors who share our belief in the vast growth potential for NFTs, just as the cryptocurrency sector has shown so far. We have upsized our offer to broaden and democratize access to this hard-to-reach market,” said Jonathan Bixby, executive chairman of NFT Investments.

The company’s shares will begin trading on the AQSE on April 16.

Incorporated on March 3 this year, NFT Investments was launched by the co-founders of Argo Blockchain, a London-listed crypto mining company valued at more than $1 billion.

Now jumping on the NFT bandwagon, Bixby told The Block in a recent interview that NFT Investments will take a three-pronged approach to investing in the space.

A third of its funds will be spent buying, selling and storing NFTs from the gaming and art sectors; a third will be invested into infrastructure firms, such as Dapper Labs and Rarible; with the final third spent on acquiring the NFT-linked digital rights of celebrities.

The Immutable X marketplace opened yesterday, allowing users to buy in-game assets for its Immutable’s own blockchain trading card game, Gods Unchained. Users made 10,362 trades within 24 hours, each of which would have cost around $40 on Ethereum.

The total sum would have amounted to $414,480 — however, for Immutable X users, the transactions were free.


Immutable X users pay zero gas for minting or trading NFTs, and all transactions are enforced by zero-knowledge proof terchnology.

Bakkt
“We’re allowing users to choose between two Validium and ZK-rollups via a system known as “Volition”, and we’re starting by offering maximum scalability via Validium,” said Immutable.

For now, Immutable X only offers trading and minting for Gods Unchained NFTs only, although the platform will integrate more games and partner projects in the future. However, beyond this particular use case, the potential is huge.

SIMETRI Research
Eliminating ETH Gas Fees
Gas fees have been the bane of the Ethereum network all year, with punitively high fees directly contributing to the rise of competing networks like Binance Smart Chain.

Retail users of DeFi have been pushed out due to the death of microtransactions on most protocols.

However, the technology underlying Immutable X could potentially be rolled out to the wider NFT and crpyto marketplaces. Today, a trading card game solved fees. Tomorrow, it may be an automated market maker or decentralized exchange.

The success of Immutable X is proof that Ethereum scaling solutions, complicated as they may be, are capable of solving the network’s problems and facilitating trading on a decentralized metwork, bringing Ethereum closer to its vision of becoming a world computer.