NFT Investments PLC Investment in social network firm Big Whale Labs (2742O)
October 07 2021 - 2:00AM
UK Regulatory
TIDMNFT
RNS Number : 2742O
NFT Investments PLC
07 October 2021
Press Release
07 October 2021
NFT Investments PLC
("NFT Investments" or the "Company")
Capital investment into social network platform Big Whale
Labs
NFT Investments PLC, (AQSE: NFT), an incubator specialising in
the market for non-fungible tokens ("NFTs") , is pleased to
announce an investment of CAD$100,000 into start-up Big Whale Labs,
a decentralised social network platform.
The investment is being made as part of a CAD$655,000 pre-seed
funding round raised by Big Whale Labs and led by venture capital
firm Slow Ventures with participation from Samsung Next, Intonation
Ventures and a series of angel investors including Alex Shin
cofounder of Hashed, Korea's largest Crypto venture capital fund.
Big Whale Labs is incorporated in Canada.
Big Whale Labs is using Web 3.0 technologies to reimagine what
digital identity and the interconnection of relationships in an
online social network could be. Their first product allows people
to build and interact as pseudonymous NFT identities but with
verified credentials and reputations attached to these NFTs. Their
tool will be built on the Ethereum blockchain. Big Whale Labs plans
to use the new funding to accelerate product development ahead of
the launch of its first product and tools.
Jason Kim, chief executive and co-founder of Big Whale Labs,
said: "Big Whale Labs' mission is to enhance human-to-human
connection online to make social safer, fun, secure, and free. Our
goal is to both enhance how web 3 communities interact on web 2
platforms like Discord and Telegram and to also introduce new
mechanisms that are completely native to web 3 like owning
fractional identities, your social graph, and pseudonymous but
verified credentials."
Jonathan Bixby, Executive Chairman of NFT, said: "I am delighted
to announce our partnership with Big Whale Labs and our third
investment to date. Social networks are ripe for disruption by
decentralised technologies and we expect this to be a growing
future market. We are proud to support Big Whale Labs alongside a
roster of high calibre investors."
For further information please contact:
NFT Investments
Jonathan Bixby via Tancredi +44 207 887 7633
Executive Chairman
Neil Thapar
Investor Relations +44 7876 455 323
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First Sentinel
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Corporate Adviser
Brian Stockbridge +44 7876 888 011
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Tennyson Securities
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Corporate Broker
Peter Krens +44 207 186 9030
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Novum Securities
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Corporate Broker
Colin Rowbury
Jon Belliss +44 207 399 9427
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Tancredi Intelligent Communication
Media Relations
------------------------------
Salamander Davoudi
Helen Humphrey +44 7957 549 906
Edward Daly +44 7449 226 720
nftinvestments@tancredigroup.com +44 7861 430 057
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NOTES TO EDITORS:
-- NFT Investments plc is an incubator specialising in the
market for non-fungible tokens ("NFTs") and is the first ever NFT
vehicle to list in a major jurisdiction worldwide. The Company
invests in a diversified portfolio of NFTs, cryptocurrency, and/or
in companies or funds which have exposure to NFT or blockchain
technology. The Company's leadership team have an extensive track
record in the cryptocurrency sector and previously founded Argo
Blockchain PLC, a global crypto miner. NFT Investments is
headquartered in London, UK and its shares are listed on the Aquis
Exchange Growth Market under the ticker symbol NFT.
https://www.nftinvest.pro/
-- Web 3.0 is the third generation of internet services for
websites and applications that will focus on using a machine-based
understanding of data to provide a data-driven web in which data in
web pages is structured and tagged in such a way that it can be
read directly by computers. The goal of Web 3.0 is to create more
intelligent, connected and open websites. Smart home appliances
using wireless networks and the Internet of Things are two examples
of how Web 3.0 is already impacting technology.
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