Mogo expands into metaverse with 25% stake in NFT trading platform

Mogo (NASDAQ:MOGO) invests in NFT Trader, a Canadian firm that operates a secure peer-to-peer over-the-counter trading protocol for non-fungible tokens. NFT Trader collaborates with popular NFT projects including Bored Ape Yacht Club and Cool Cats. The platform centers around a Web3 ecosystem for trading digital assets and offers support for token swapping. Mogo's (MOGO) initial investment is through a convertible note, which, if converted, will represent a 25% interest in NFT Trader, the company says. MOGO can also buy an additional 25% stake in the platform through a secondary purchase on common shares from the founder within six months of the initial investment. Additionally, MOGO plans to bring NFT Trader to its members in Canada after navigating the Canadian regulatory framework. "A next-gen financial platform will not only bridge the gap between traditional finance and DeFi, but the merging of the digital and physical worlds will become one of the