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Argo Blockchain-affiliated crypto fund will go public via reverse takeover

Argo Blockchain-affiliated crypto fund will go public via reverse takeover

Cryptocurrency-focused venture capital fund Pluto Digital Assets will be listed on the U.K. alternative trading system Aquis through a reverse takeover by NFT Investments.

Both companies are affiliated with the founders of the mining company Argo Blockchain.

NFT Investments will issue shares worth £96 million ($130 million) for the benefit of Pluto shareholders, giving them a 70.5% stake in the combined company.

Pluto Digital Assets established a subsidiary, Pluto V, which has invested in various Web 3.0 and NFT projects. The division acquired a strategic stake in game development studio Maze Theory with a focus on VR, PC/console and mobile devices. The next step will be to create blockchain games based on the P2E model.

Recall that NFT Investments raised £35 million in April 2021.

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