LONDON, UK: NFT Investments PLC, an incubator specialising in the market for non-fungible tokens (NFTs), announced an investment of US$1.4million into Sturdy Exchange, a marketplace to display, collect and trade NFTs created by artists and performers.
The investment is being made as part of a seed round to raise a total of $20 million by Sturdy Exchange, which is incorporated in the US.
The Exchange was founded to help artists and world class entertainers to collaborate and display one-of-a-kind NFTs. The platform will allow artists to mint NFTs and distribute directly to their fans. Users will be able to interact with their favourite artists, collecting special NFTs with album rollouts, tours, merchandising, or resell their collections in the Sturdy Exchange Marketplace.
Exchange is a subsidiary of Sturdy Agency, a creative agency that works with top tier artists and movie production companies. Their clients include, but are not exclusive to, rapper Drake, singer Selena Gomez, singer and songwriter Shawn Mendez and rapper Kendrick Lamar. The Exchange will work with Sturdy Agency to on-board artists into the platform and help them drop their NFTs.
Sturdy Exchange will be using Flow Network, an open network blockchain, to issue NFTs.
Jonathan Bixby, Executive Chairman of NFT, said: “I am delighted to announce our partnership with the Exchange, our fourth investment since our IPO. The demand for NFT generation in the music and entertainment industry is surging and Sturdy Exchange provides an exciting opportunity to work closely with high profile musicians and entertainers. By building on the Flow Network, Sturdy Exchange will be able to help democratise access to NFT’s at affordable price entry points, providing users with an accessible platform to engage with and support their favourite artists.”
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. www.nftinvest.pro
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after this sentence:Â The Exchange was founded to help artists and world class entertainers to collaborate and display one-of-a-kind NFTs. The platform will allow artists to mint NFTs and distribute directly to their fans. Users will be able to interact with their favourite artists, collecting special NFTs with album rollouts, tours, merchandising, or resell their collections in the Sturdy Exchange Marketplace.