$300 M hybrid equity-NFT fundraising generated from T&B Media, Sygnum collaboration
A Swiss-based digital asset bank called Sygnum has teamed up with Thai media juggernaut T&B Media Global to help the latter raise $300 million in the US using a structure that combines stock and NFTs.
The money will support Translucia, a brand-new platform for the linked metaverse from T&B Media Global. The platform’s goal is to give partners a place to start using blockchain technology to create linked metaverses.
The Thai company will get digital asset services from Sygnum, including guidance and setup of the hybrid equity-NFT structure, creation of metaverse token economic models, and custody for conventional tokens.
The goal of the hybrid equity-NFT structure is to give investors and issuers, particularly those who aren’t Web3 natives, a controlled way to take advantage of the potential offered by the metaverse.
Sygnum’s Web3-native corporate finance solution, which was released in June, is made possible by its enlarged capital markets services license, which it obtained from the Monetary Authority of Singapore in May. (MAS). Along with a Swiss banking license, Sygnum also has a MAS fund management license.
In a series B financing headed by Sun Hung Kai & Co., the digibank raised US $88 million earlier this year. Additionally, Sygnum is recognized for tokenizing the prestigious NFT CryptoPunk #6808 and offering regulated asset management and trading services for decentralized financial applications.
