Sygnum Partners With T&B Media to Raise US$300M to Fund Its Metaverse Platformby Fintechnews Switzerland October 5, 2022
Sygnum, a digital asset technology group with a Swiss banking licence and a Singapore capital markets services licence, is partnering Thai media group T&B Media Global to raise over US$300 million to fund its new interconnected metaverse platform.
The raise uses a unique structure hybridising equity and non-fungible tokens (NFTs) like metaverse land NFTs into a financial instrument.
T&B Media Global’s new platform, Translucia, enables partners to build interconnected metaverses with real estate developer Magnolia Quality Development Corporation (MQDC) joining as first corporate partner.
MQDC will develop a metaverse within Translucia consisting of a virtual city that connects digital buildings with its real-world property projects and experiences.
Meanwhile, Sygnum will provide T&B Media Global an end-to-end corporate finance solution called Strategic Digital Assets Solutions.
It includes advising and setting up of the hybrid equity-NFT structure, developing metaverse token economic models and providing institutional-grade custody for traditional securities and tokens.
Sygnum will also lead the fundraise by managing Translucia’s roadshow as well as provide professional investors and strategic partners access to the platform and investment opportunities.
“We are excited to partner T&B Media Global to accelerate the growth of their metaverse universe, and to bring to market a new way for raising capital in a fully-regulatory compliant manner.”
said Gerald Goh, Sygnum Co-Founder and CEO Singapore.
“A good company extends beyond just good products and financials – it includes the driven, nurturing hearts of its people working together to build something amazing. From the moment I met the Sygnum team, I knew they were a perfect fit and would be excellent stewards of our equity-NFT fund raise.”
said Dr Jwanwat Ahriyavraromp, Founder and CEO of T&B Media Global and Translucia.
This article first appeared on Fintech News Singapore.