NFT Investments doubles IPO to £20m

NFT Investments has doubled the size of its initial public offering to £20m because of strong demand from investors wanting to buy into the crypto-craze.

The non-fungible tokens investor said it now plans to issue 400m new shares at 5p each, valuing NFT at £35m. It will list the shares on the Aquis Stock Exchange Growth Market.

The company says it is the world’s first business investing solely in NFTs to offer shares on a stock market in a major jurisdiction. NFTs are tokens tied to blockchain technology that are meant to act as a digital certificate of ownership of digital art, music and other media.

Jonathan Bixby, NFT’s executive chairman, said: “We are very encouraged by the strong interest from a wide range of investors who clearly wish to gain early exposure to the fast-growing market for NFTs.”

People in the UK spent around £150m more on chocolate during the past Easter holidays than in 2020.

According to data from NielsenIQ, Britons spent a total of £439 on confectionaries ahead of Easter, marking a 34% rise compared to the same period last year.

Forced to remain home due to the coronavirus and the ensuing lockdowns, Britons turned to buying treats at the supermarket to enjoy at home.

Clothing sales meanwhile doubled to £313m, while sales of homeware were up 61%, and those of garden items by 92%, with the latter two increasing by £175m.

In overall terms however, grocery spending fell 2.9% over the four-week period when compared with that just after England’s first national lockdown last year and the stockpiling that came with it.

However, British shoppers still spent £1bn more on groceries in the four weeks than they did in the same period in 2019.

“It’s clear that as we draw ever closer to the end of lockdown, consumers have been looking ahead to spring and indulging in some retail therapy, ranging from Easter chocolate to some new clothing or accessories for the home and garden,” commented Mike Watkins, NielsenIQ’s UK head of retailer and business insight.

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