Crypto Entrepreneurs Plan London IPO for NFT Investment Firm

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Photographer: Andrey Rudakov/Bloomberg

Jonathan Bixby and Mike Edwards have founded and taken public companies involved in cryptocurrency mining, esports and cannabis. Now, the entrepreneurs are turning their attention to another investment mania: Non-fungible tokens.

The two founded NFT Investments to invest in the blockchain-minted unique digital tokens and are planning an initial public offering this year on the U.K.’s Aquis Stock Exchange, the firm said in a statement Thursday. The deal, which will value the company at 25 million pounds ($34.4 million), would create the first-ever listed firm in the sector, according to the statement.

The men are striking now as NFTs have gone from a little-known corner of the digital-token market to a red-hot investment asset over the past couple of months. When a file, such as artwork, is uploaded to an NFT auction market, the unique record on a blockchain ledger can be bought and sold.

Last month, a non-fungible token of artwork by Beeple set a fresh record when it sold at Christie’s for $69 million. Twitter Inc. co-founder Jack Dorsey has auctioned the NFT for the first-ever tweet, while the New York Times sold one for an article last week.

Read More: The Line Between NFTs and Fine Art Gets Blurrier in New Auction

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