[ad_1]
The company operates a global peer-to-peer non-fungible token trading platform that has generated over $50 million in trading volume in the past 30 days
Mogo gets an initial 25% fixed price option to increase to 50%
Mogao Corporation (Nasdaq:I can) (TSX:I can) (“Mogo” or the “Company”), a digital payments and financial technology company, today announced a strategic investment in NFT Trader, a Canadian company that operates a secure peer-to-peer OTC transaction protocol or NFT for non-fungible tokens or NFTs.
NFTs are unique digital goods that users buy and sell online, and use blockchain technology to keep a digital record of ownership, similar to cryptocurrencies. NFT Trader is a full-fledged NFT trading platform that works with many popular projects including Bored Ape Yacht Club, Cool Cats, Gutter Cat Gang and CyberKongz. NFT Trader is centered on a decentralized Web3 ecosystem for securely trading digital assets and provides extensive support for the interoperable exchange of many tokens.
Mogo’s initial investment was made through convertible notes, which, if converted, would represent a 25% interest in the NFT Trader. Mogo also has the option to acquire an additional 25% interest in the NFT Trader by making a secondary purchase of common stock from the founder within six months of the initial investment. Mogo has the right to appoint a director to NFT Trader’s board of directors and is granted pro-rata rights to any future securities issuance by NFT Trader, as well as the NFT Trader founder’s right of first refusal on any securities transfer.
In addition to supporting the company’s continued growth, Mogo hopes to work with NFT Trader over time to explore strategic partnerships in the Canadian regulatory environment…
The full story is available on Benzinga.com
[ad_2]
Source link
