NFT Investments PLC mulls £96M acquisition of Pluto Digital By Cointelegraph

On Friday, NFT Investments PLC, a U.K.-based blockchain firm that invests in companies operating in the nonfungible tokens, or NFTs, space, announced that it would no longer pursue a 96 million pound acquisition of Pluto Digital. Although it did not directly state its reasons for canceling the deal, NFT Investments wrote:

Back in January, NFT Investments signed a non-binding letter of intent to acquire Pluto Digital, which builds infrastructure in the decentralized finance, or DeFi, realm, via the new issuance of NFT shares. From last November to March of this year, the blockchain industry witnessed a month-long bear market, sending the total market cap of digital tokens over 40% below their all-time highs.