Icecap is trying to take the gem industry in a new direction by offering investors NFT tokens, which are diamonds.
Last July, Icecap announced the launch of its diamond investor marketplace. The platform uses the Ethereum blockchain and non-fungible tokens (NFT) to provide GIA-rated diamonds with their own virtual token.
Tokens represent a specific diamond that is held in a secure vault at the Dubai Merchandise Trade Center (DMCC). Tokens serve as a tradable asset in the cryptocurrency industry.
Luxury diamonds like NFT
On Friday, the company released a new collection of NFT diamond items from its new offices in Dubai. The tokenized Ice Cap Collectibles include not only individual stones, but also finished jewelry.
Unpackaged diamonds range from exotic colored stones of red, yellow and green to ultra-high grade gemstones with a price tag of over $ 1 million.
Once purchased, diamond tokens are available for redemption at OpenSea.io. Like any high quality product, diamonds can be used as an investment or liquidated for sale. The third option is to redeem your NFT token so you can show off your chic in person.
If a buyer accepts delivery of a physical diamond, it can be returned later and re-tokenized if necessary.
A revolution in diamond collecting
Icecap CEO Jacques Voorhees explains that every diamond “has all the elements of authenticity and grading. It is placed in a safe and the NFT representing the property can safely go out into the wild and be sold back and forth without being damaged, exchanged, or played with the diamond. That’s where the value lies in the fact that you can take a fragile thing, not that diamonds are fragile, but they are problematic in terms of what can happen to them in nature. “
The goal of the project is to respond in a new way to the requests of collectors of elite diamonds. Something that Jacques Voorhees is no stranger to. Voorhees was responsible for setting up the online diamond business in the 1980s. The movement that revolutionized the industry forever.
The Icecap project is the brainchild of himself and his son Eric Voorhees. Eric is a Bitcoin advocate and founder of ShapeShift, a digital asset trading platform.
All information on our website is posted in good faith and for general information purposes only. Any action that the reader takes with the information on our website is done solely at his own risk.