France’s Crypto Blockchain Industries sells NFTs linked to DJ star Guetta, shares surge

DJ David Guetta stands in front of the Louvre Pyramid before performing the “United at Home” fundraising live concert on New Year’s Eve, in Paris, France, December 29, 2020. REUTERS/Charles Plateau/File Photo

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PARIS (Reuters) – French fintech company Crypto Blockchain Industries (ALCBI.PA), whose shares have surged since its October listing, announced on Monday the sale of non-fungible tokens (NFTs) linked to French DJ. Star David Guetta.

Crypto Blockchain Industries said the sale of NFT raised more than $250,000 to United At Home, a charitable organization co-founded by Guetta.

Non-fungible tokens (NFTs), a type of digital asset, have exploded in popularity this year, with NFT artwork selling for millions of dollars. Read more

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Shares in Crypto Blockchain Industries jumped 21.7 percent to €43 in early trading, compared to its first price of €2, giving it a current market value of around €830 million ($935.33 million). Read more

NFT is a digital asset located on the blockchain, which is a record of transactions saved on networked computers. The blockchain serves as the public ledger, allowing anyone to verify the authenticity of the NFT and who owns it.

NFTs are usually purchased with cryptocurrency or dollars and the blockchain keeps a record of the transactions. While anyone can view the NFT, only the buyer has official owner status – kind of a true digital brag.

Crypto Blockchain Industries added on Monday that it has conducted sales of the ‘Crystal’ cryptocurrency.

Guetta, who has worked with artists like Rihanna, Snoop Dogg and Justin Bieber, has won two Grammy Awards and has racked up more than 50 million record sales to his name. Read more

(1 dollar = 0.8874 euros)

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(Reporting by Sudeep Kar Gupta), Editing by Louise Heavens and Kirsten Donovan

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