Mostly, when we think of Cryptocurrency, the one word that sticks straight in our mind is Bitcoin, right? Why? Because it has gained the trust and is the oldest of all, it has a history that gives traders and investors a path to analyze its growth graph. Similarly, over time, NFTs have actually evolved. The world received an alert about the existence of NFTs with Everyday: the First 5000 Days, and it upgraded the value and appreciation of NFTs substantially. From that point forward, NFTs have gained value and worth rapidly, and more projects are planned as well as using NFTs to expand their platform. In 2021 NFT sales volume increased to $12 billion. The major players in the realm include Beeple’s “Crossroad,” Mike Winkelmann’s Everyday: The First 5,000 Days, and Replicator, the first “multi-generational NFT.”
We are all well-versed with the common types of NFTs that include collectibles, gaming items, and Digi-physical goods. However, as NFTs are carried into life, the industry is experiencing a remarkable transformation with various advantages from NFTs like enhanced movement and trading assets and assistance in securing the value of tokenized assets. What next? How will it revolutionize real-world assets?
After attaining high popularity in the tech and crypto industries, NFTs have started to attract the attention of investors and have spawned projects like sports, retail, music, and virtual cars.
As the world is moving towards becoming more digital, NFTs offer everyone a strong solution for tokenizing property and ownership. This concept allows the real-world asset to become digitized and stored, keeping in mind the security, legality, and storage of the asset. However, LCX has introduced the concept of tokenizing diamonds. The objective of tokenization is to reimagine and strengthen financial services on the groundwork of distributed ledger technology, smart contracts, and digital assets.
With NFTs, LCX desires to offer various services and utilize the full potential of NFTs, so it launched Tiamonds. LCX has taken its first step to utilize the concept of NFT and tokenization to build something remarkable that will permit users to invest in diamonds without worrying about liquidity.
Tiamonds are based on the Ethereum blockchain and are enabled by LCX’s regulatory framework. And as, due to a lack of fungibility, diamonds have an intricate, transparent, and illiquid marketplace. With Tiamonds you will get your investment’s transparency, security, and value. Diamonds are unique; thus, this makes them perfect for NFT. Moreover, the resale value of diamonds reduces from 50% to 75%, but when you are redeeming your Tiamonds, you get the liberty to receive the physical diamonds as well as sell them at the current market value of Tiamonds. So basically, the value of your asset depends on the demand and supply of Tiamonds NFT and not the market value of a diamond. Hence, it’s a win-win situation for every investor with LCX Tiamonds.
This amazingly worthwhile tokenized asset will exclusively be available on the LCX marketplace. Once you get possession of Tiamond, you either trade it or HODL it to redeem all the benefits it contains. They can be traded or sold on NFT marketplaces like Rarible OpenSea, and the new LCX NFT marketplace.
As LCX has turned Diamonds into a token, they have certainly enhanced the value, security, and liquidity of the same. To know how LCX will use the power of NFTs in the next step, be sure to follow up on LCX insights.
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