NFT Investments PLC Capital Investment in Afterparty (6604T)
November 26 2021 - 2:00AM
UK Regulatory
TIDMNFT
RNS Number : 6604T
NFT Investments PLC
26 November 2021
Press Release
26 November 2021
NFT Investments PLC
("NFT Investments" or the "Company")
Capital investment made in Afterparty
NFT Investments, a company specializing in the identification,
acquisition, investment, and development of non-fungible tokens
("NFTs") , is pleased to announce an investment of US$250,000 into
Afterparty Inc, a platform for creators to engage with their fans
and generate revenues from events such as live streaming.
The investment is in the form of a Simple Agreement for Future
Equity ("SAFE"), and part of a US$3 Million fund-raising round
being conducted by Afterparty, which is incorporated in the US.
Afterparty is creating a decentralized platform, using Web 3.0
technologies, to provide creators with the tools to monetize and
manage their fan relationships, deliver live virtual experiences,
and sell digital merchandise. Creators can mint and launch their
own NFTs on the platform, they can issue tokens to fans so they can
get into "token-gated" virtual experiences such as VIP parties. In
contrast to Web 2.0 technologies like Instagram, the bulk of the
revenue on the decentralized web goes to the creators.
Afterparty will initially focus on the music industry, hosting
live events in which artists and creators can set their own pricing
terms and leverage fan fervour to create revenue.
Afterparty was co-founded by David Fields, a former Disney
executive and head of investments at Michael Eisner's the Tornante
Company. Dan Rahmel, the second co-founder of Afterparty, was a
senior technology executive at Music Audience Exchange.
Jonathan Bixby, Executive Chairman of NFT Investments, said: "We
are moving at pace to support the growth of a range of innovative
businesses that are positioned to benefit from the long-term growth
of the NFT market. Afterparty's platform will provide a compelling
service for art fans and creators to interact and create value from
rich content. I look forward to supporting Afterparty's growth and
our involvement in their promising future."
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
------------------------------
First Sentinel
------------------------------
Corporate Adviser
Brian Stockbridge +44 7876 888 011
------------------------------
Tennyson Securities
------------------------------
Corporate Broker
Peter Krens +44 207 186 9030
------------------------------
Novum Securities
------------------------------
Corporate Broker
Colin Rowbury
Jon Belliss +44 207 399 9427
------------------------------
Tancredi Intelligent Communication
Media Relations
------------------------------
Salamander Davoudi
Edward Daly +44 7957 549 906
Helen Humphrey +44 7861 430 057
nftinvestments@tancredigroup.com +44 7449 226 720
------------------------------
NOTES TO EDITORS:
-- SAFE agreement is a "Simple Agreement for Future Equity".
SAFE Agreements have similar characteristics to Convertible Loans
and are designed to provide an early investor with an "edge" ahead
of a larger planned funding. The edge is typically conversion of
funds advanced for new equity at a discount to the subsequent
raise. They are popular as it prevents a relatively small early
investor setting a price for a round (which is set later by a lead
investor), reducing the need for extensive due diligence and
extensive negotiations regarding valuation. SAFE Agreements are
increasingly popular in the US, (they remain relatively rare in
Europe), and are commonly used by technology companies where the
early stage of the IP is difficult to value. Being a SAFE investor
also means an investor is not a creditor in a future
insolvency.
-- NFT Investments plc is an investment company specialising in
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. The 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NEXDKPBBFBDDFDB
(END) Dow Jones Newswires
November 26, 2021 02:00 ET (07:00 GMT)
Nft Investments (LSE:0A94)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nft Investments (LSE:0A94)
Historical Stock Chart
From Jul 2023 to Jul 2024