April, 2019 – Chicago, IL – Ampersand Markets, which is creating a silver-based ecosystem around a new category of digital assets that allows buyers to own silver on the blockchain, today announced the launch of its consortium (the “Ampersand Consortium”). Comprised of indispensable participants for delivering major functional components of the ecosystem, the Ampersand Consortium will provide the necessary infrastructure to explore the development of a new silver ecosystem and exchange.
Participants in the growing Ampersand Consortium include several prominent companies and groups that focus on precious metals and digital assets, including Zaner Metals, LLC, Ohansons LLC, DrawBridge Lending and leaders in the mining finance community based in Toronto. Ampersand Markets has also hired Handler Thayer, LLP and Manatt, Phelps & Phillips, LLP, as its legal and regulatory and compliance team. Together, these vendors, operators and advisors make it possible for Ampersand Markets to modernize mineral economics, allowing purchasers to enjoy the upside of the ecosystem and precious metals in a “hybrid” digital asset on the blockchain.
The Ampersand Consortium provides the infrastructure to support this hybrid digital asset, Ampersand’s Vaulted Silver Token (AXSI), which pairs a physical asset, in this case silver, with a first-of-its-kind Digital Right. As the ecosystem scales and demand for Ampersand’s hybrid tokens increases, consortium members will play a critical role in meeting demand for additional silver and other refined metals needed for tokenization. Additionally, consortium members will play a role in optimizing procurement costs, improving supply chain elements in the ecosystem including digital transfer and convenient global delivery. Ampersand is also exploring the development of a blockchain-based hybrid mineral tokens exchange under the guidance of Manatt, Phelps & Phillips, LLP. If developed, the exchange would service the tokenization of in-ground mineral deposits and offer a venue on which Ampersand’s hybrid digital assets, including the AXSI tokens, would trade in a legally compliant manner.
“We created the Ampersand hybrid asset token family as a direct response to the engineering failures of pure digital assets, on the one hand, and physical asset tokens on the other,” said Seth Patinkin, founder and CEO of Ampersand Markets. “Digital assets are exceedingly difficult for token purchasers because they have no intrinsic value, resulting in unwieldy and dangerous price swings. On the physical side, hundreds of precious metals ‘placeholders’ such as SLVR and Digix have arrived and departed because they have embraced a structure wherein their tokens trade at or below the spot price of the metal and thus offer no incentive for adoption, much less the building of an enduring ecosystem.”
The Ampersand Vaulted Silver Token (AXSI) will be offered on the EOS blockchain. The AXSI token and all of the supporting smart contract software on EOS have been fully developed as of March 2019. Prospective accredited investors who are U.S. persons will be able to purchaseAXSI tokens for .50 cents each, plus the current price of 1.00 gram of silver. The construction of AXSI tokens is unlike any currently on thecryptocurrency market. The Digital Right is the first of its kind in the world, specifically offering the capability to couple and decouple physical assets, and its value scales with the growth of the Ampersand ecosystem.
“We believe Ampersand’s mission to modernize mineral economics using blockchain technology is novel and very forward thinking,” said MatthewZaner, CEO of Zaner Metals, LLC. “We are proud to be helping Ampersand put the structural pieces in place to deliver a robust supply chain for metals in its endeavor for metals tokenization.”
To learn more about Ampersand Markets and the Ampersand Consortium, please visit: https://www.ampersandmarkets.world.
About Ampersand Markets
Ampersand Markets, LLC is creating a silver-based ecosystem around a new category of digital assets, allowing buyers to own silver inside theblockchain ecosystem. The brainchild of Seth Patinkin, the only PhD student to work under Nobel Prize Winner John Nash at Princeton University, Ampersand has developed a first-of-its-kind digital token, the Ampersand Vaulted Silver Token (AXSI), that features a hybrid structure based on both physical silver and a Digital Right, which offers buyers the ability to purchase a specific amount of refined silver in order to create an AXSItoken. This two-part structure offers token purchasers the opportunity to diversify holdings while maintaining a floor value. The Digital Right will bear a value consistent with prevailing market forces, and its value will scale with the growth of the Ampersand ecosystem. Additionally, Ampersand is exploring the development of a blockchain-based hybrid mineral tokens exchange under the guidance of Manatt, Phelps & Phillips, LLP.