An investment vehicle for digital art is planning a £25 million London float to create the first listed business in a sector enjoying a surge in sales.
NFT Investments, founded by Jonathan Bixby and Mike Edwards, the blockchain entrepreneurs, announced its plan for an initial public offering on the Aquis Stock Exchange yesterday amid a craze in “cryptoart”.
In recent months hundreds of millions of pounds in art that exits only online has changed hands, made possible by new technology called non-fungible tokens, or NFTs. The tokens act as proof of ownership for buyers because they are recorded on blockchain-based digital ledgers. The “one-of-a-kind” cryptoassets enable collectors to authenticate, own and trade original versions of digital goods.
Last month a digital artist in the United