Thai media giant to work with Sygnum for $300m hybrid equity-NFT raise

Sygnum, a Switzerland-based digital asset bank, has partnered with Thai media giant T&B Media Global to facilitate a US$300 million round for the latter through a structure that hybridizes equity and NFTs.

Photo credit: Sygnum

The amount will go toward T&B Media Global’s new interconnected metaverse platform Translucia. The platform aims to provide a launchpad for partners to leverage blockchain infrastructure to build interconnected metaverses.

Sygnum will provide the Thai firm with digital asset services, which includes advising in and setting up the hybrid equity-NFT structure, developing metaverse token economic models, and providing custody for traditional tokens.

The hybrid equity-NFT structure is meant to provide both issuers and investors, especially those that aren’t Web3-native, with a regulated means of participating in the opportunities presented by the metaverse.

Launched in June, Sygnum’s Web3-native corporate finance solution is enabled by its expanded capital markets services license, which it secured in May from the Monetary Authority of Singapore (MAS). Sygnum also holds a fund management license from MAS as well as a Swiss banking license.

Earlier this year, the digibank raised US$88 million in a series B round led by Sun Hung Kai & Co. Sygnum is also credited with tokenizing blue-chip NFT CryptoPunk #6808 and providing regulated trading and asset management products for decentralized finance applications.

See also: Akulaku-backed digibank’s dicey road to profitability