NFT Investments doubles IPO to £20m

NFT Investments has doubled the size of its initial public offering to £20m because of strong demand from investors wanting to buy into the crypto-craze.

The non-fungible tokens investor said it now plans to issue 400m new shares at 5p each, valuing NFT at £35m. It will list the shares on the Aquis Stock Exchange Growth Market.

The company says it is the world's first business investing solely in NFTs to offer shares on a stock market in a major jurisdiction. NFTs are tokens tied to blockchain technology that are meant to act as a digital certificate of ownership of digital art, music and other media.

Jonathan Bixby, NFT's executive chairman, said: "We are very encouraged by the strong interest from a wide range of investors who clearly wish to gain early exposure to the fast-growing market for NFTs."