Investment Made in Fashion Technology Firm AEON
22/04/2021 07:00
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RNS Number : 2777W NFT Investments PLC 22 April 2021
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Press release
22 April 2021
NFT Investments PLC
("NFT Investments" or the "Company")
First Investment Made in Leading Luxury Fashion Technology Firm AEON
Executive Board and Management Team to be Paid in Cryptocurrency
NFT Investments, a company specializing in the identification, acquisition,
investment, and development of non-fungible tokens ("NFTs"), is pleased to
announce it has made its maiden investment by acquiring a stake in AEON
International, a leading developer of cutting-edge technology for the luxury
fashion industry.
The Company has invested US$1,000,000 in AEON in an oversubscribed private
round. NFT Investments joins an exclusive club of existing investors including
a NYSE listed Chinese ecommerce giant which has a significant stake. This is
the first investment made by the Company since its flotation on the AQSE
Growth Market on 16 April 2021.
Based in Hong Kong and operating across Europe, the US and Asia Pacific, AEON
uses sophisticated digital solutions to support and innovate supply chain
processes in the luxury fashion industry. It has an extensive list of tier one
luxury labels and preeminent fashion houses as clients, including but not
limited to Louis Vuitton, Givenchy, Balmain, Balenciaga, Gucci, Chloe,
Alexander Wang, Michael Kors and many others.
Under its business division AUTHENTIQUE, AEON's offering includes NFT based
verification technology that is being used to strengthen product
authentication for designer goods and combat luxury counterfeiting. The global
market in counterfeit goods is valued at over US$450 billion and is a great
cost to the fashion industry. Beyond this, AUTHENTIQUE is also applying NFT
technology to open new revenue streams through minting unique fashion NFTs
and by using smart contracts written into NFTs to grant original product
manufacturers ongoing royalties for each physical product resold. The global
resale market is currently estimated to be more than US$50 billion, access to
this lucrative market will be a first for luxury brands.
AEON is supported by an experienced management team and is led by fashion
industry veteran Simon P Lock. Simon is the founder of Australian Fashion Week
and former SVP & MD of IMG Fashion & Models and has been at the
cutting edge of digital innovation in the industry globally for 20 years.
NFT Investments is also pleased to announce that it will pay the salaries and
bonuses of its Board and management team entirely in cryptocurrency with
immediate effect. NFT Investments will convert salaries from fiat to ETH at
the spot rate on the last day of the month.
Jonathan Bixby, Executive Chairman of NFT Investments, said: "AEON is a
pioneer in fashion technology that is leading the way in demonstrating the
concrete benefits that NFTs can bring the fashion industry. The market
opportunity for NFTs in the industry is huge, beyond using NFTs to establish
digital ownership and verify the transfer of luxury products, AEON is also
advancing the frontier of digital-first fashion products using NFTs. We expect
this to be a growing future market and are delighted to support AEON alongside
a roster of high calibre investors.
"NFT Investments' DNA and growth is based on digital currencies and assets, so
it is perfectly appropriate that our team is showing its conviction in the
long-term value of crypto by receiving their emoluments in cryptocurrencies. I
am delighted to be a part of the first company worldwide to achieve this
milestone."
Simon P Lock, Founder, CEO and Executive Chairman of AEON, said: "NFTs are set
to revolutionize luxury goods authentication. Counterfeiting is the enemy of
luxury brands, eroding brand value, revenue and profitability. We look forward
to applying NFT technology to this space as well as supporting the emerging
digital-first fashion category in which NFTs will play an enormous role."
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 +44 7876 888 011
Brian Stockbridge
Tennyson Securities
Corporate Broker +44 207 186 9030
Peter Krens
Novum Securities
Corporate Broker +44 207 399 9427
Colin Rowbury
Jon Belliss
Tancredi Intelligent Communication
Media Relations
Salamander Davoudi +44 7957 549 906
Helen Humphrey +44 7449 226 720
Edward Daly +44 7861 430 057
nftinvestments@tancredigroup.com (mailto:nftinvestments@tancredigroup.com)
About NFT Investments:
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/ (https://www.nftinvest.pro/)
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