London, Singapore, Hong Kong, Abu Dhabi, Luxembourg, Budapest, Rio de Janeiro, 1 April 2021 – The Centre for Finance Technology and Entrepreneurship (CFTE) has just announced its big move to launch a $500m NFT SPAC denominated in Bitcoin. CFTE, an organisation that rides at the forefront of innovative digital technology is ramping up its efforts to become a trailblazer in this stellar industry.
NFTs (or Non-Fungible Tokens) have exploded in the past few months bringing to life the real value of intangible assets that are grounded on blockchain technology. NFT transactions quadrupled to $250 million last year, while the last month alone has managed to match up to that benchmark with volumes exceeding $220 million. This boom is just scraping off the surface of the true potential of these eccentric tokens that are redefining traditional finance.
A SPAC (or Special Purpose Acquisition Company) is a company that does not have any commercial operations and is created solely to raise capital through an initial public offering by acquiring an existing company. Though SPACs have been around for a while, the year 2020 alone saw more than $50 billion being raised by the SPAC market.
To be a part of this new-age financial domain, CFTE has decided to raise a $500m SPAC that will exclusively focus on NFT. In other words, this NFT SPAC allows investors to pre-buy the future performance of an intangible asset, which is something that has never ever been done before in the whole history of financial services. But CFTE is keen to push the envelope even further, and will get the NFT SPAC denominated in Bitcoin. By embracing the crypto-centric currency as funds for its SPAC the company’s move would raise a lot of eyebrows in the industry, but CFTE is confident that cryptos are the currencies of the future. The recent surge witnessed as cryptocurrencies hit a new milestone of $60,000 only amplifies its speculation for the future.
As proof that this innovation will not get unnoticed, Lex Sokolin, author of The Fintech Blueprint, and global expert in decentralised finance, commented on CFTE’s recent announcement.
“The decentralized financial future of Fintech technology will leverage machine learning, blockchain and crypto assets, and virtual currencies in virtual realities, augmented by mass personalised wearables tied to our biometrics and bioengineered neural links. The CFTE SPAC is the perfect vehicle to provide the fungible liquidity to non fungible market makers in the current regulated market environment”
Lex Sokolin, author of The Fintech Blueprint, and global expert in decentralised finance
“In my 20 years in financial services and Fintech, I have never seen such disruptive innovations coming together so quickly. I know that many investors will be skeptical about buying a virtual vehicle that buys virtual tokens of virtual assets with virtual currencies, but the world of digital is now a new paradigm shift which can’t be overlooked.”
Huy Nguyen Trieu, CFTE’s co-founder
“I always said that an image is worth a thousand words. CFTE’s $500m NFT SPAC, shows that an image is worth actually much more. This initiative has the potential to turn our pictures in the cloud into millions, building self-sovereign data banks for all.“
Janos Barberis, co-founder of SuperCharger Ventures
The NFT SPAC is likely to be 10 times oversubscribed, and investors who would like to be considered for a potential investment in the NFT SPAC can send an email to upskillmyself@cfte.education.
In the meantime, you can check out CFTE’s brand new NFTs
About CFTE:
The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals with the necessary skills to remain competitive in a rapidly changing industry. With offices in London, Singapore, Hong Kong and Abu Dhabi, CFTE partners with Fortune 500 companies to build their knowledge in Financial Technology, whilst simultaneously supporting their digital transformation process. In a tech world, we bet on people.
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