TIDMNFT

RNS Number : 1771O

NFT Investments PLC

30 January 2023

Press Release

30 January 2023

NFT Investments PLC

("NFT Investments" or "The Company")

Update on cryptocurrency investments

NFT Investments (AQSE: NFT), an investment firm specialising in the market for non-fungible tokens ("NFTs"), is pleased to provide the following update to the Company's cryptocurrency investments.

Further to the half-year results announced 26 September 2022, where NFT Investments disclosed its intention to safeguard its cash reserves until the adverse market conditions in the digital asset sector had abated, the Company is pleased to announce that it has deployed US$16.26M into purchasing Bitcoin (BTC) and Ether (ETH) from November 2022 to early January 2023.

The price of Bitcoin and Ether has increased significantly in the last two weeks and the US$16.26M deployed has increased to US$22.20M as at 29 January 2023, representing an increase of 37 percent compared with the carrying value.

The Company has an unaudited net asset value of GBP33.2 million (3.3p per share) as at 29 January, including GBP27.8 million in liquid crypto and cash equivalents. The current share price is now 75% below the company NAV.

Jonathan Bixby, Executive Chairman of NFT Investments, commented: "Our team successfully anticipated the adverse market trends in the digital asset sector - the so-called 'Crypto Winter' - and reacted quickly to safeguard the Company's assets and wait for the bottom of the market. We identified an opportunity to generate value for our investors by leveraging our considerable cash reserves in November 2022, and we are delighted by our timing and the subsequent positioning of our treasury. We are very excited that our balance sheet is getting stronger and stronger and that we are now over 90% deployed into a rising market".

For further information please contact:

 
 NFT Investments 
 Jonathan Bixby                        via Tancredi +44 207 887 7633 
  Executive Chairman 
                                      ------------------------------ 
 First Sentinel 
                                      ------------------------------ 
 Corporate Adviser 
  Brian Stockbridge                    +44 7876 888 011 
                                      ------------------------------ 
 Tennyson Securities 
                                      ------------------------------ 
 Corporate Broker 
  Peter Krens                          +44 207 186 9030 
                                      ------------------------------ 
 Tancredi Intelligent Communication 
  Media Relations 
                                      ------------------------------ 
 Gabriela Amaya Garcia 
  Charlie Hobbs                        +44 7915 035 294 
  nftinvestments@tancredigroup.com      +44 7897 557 112 
                                      ------------------------------

About NFT Investments:

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 Stock Exchange Growth Market under the ticker symbol NFT. https://www.nftinvest.pro/

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