In a striking blend of the tangible and digital, a high-value diamond finds its dazzle on the blockchain. This precious gem, with a market value exceeding $2 million, is being offered at a significant discount on Tiamonds.com for $1.2 million, come Thursday, October 5, 2023. The specialized marketplace, Tiamonds, is setting a resplendent example of how “real world” assets (RWA) can be tokenized, opening doors to a new realm of asset trading and ownership.
Tokenized Real-World Diamonds
The gemstone in focus is a 10-carat diamond, the most luxurious to ever grace the Tiamonds platform, poised for sale at a price of 1,200,000 $USDT (equivalent to $1.2 million). The corresponding NFT acts as a digital title deed to the real diamond, securely ensconced in the highest security vaults nestled in the Liechtenstein Alps, away from the traditional banking system. These vaults are not just robust; they are fully insured and hold the certification of the Gemological Institute of America (GIA) and LCX as Physical Validators. The tokenization of this diamond isn’t merely a digital mirroring; it’s an enabler of easy trade and transfer without the logistical hurdles of moving the actual gem, heralding a new epoch in RWA trading.
Steven Gaertner, head of Tiamonds, elucidated the pristine quality of this D-color diamond to Cryptonews. This color grading is synonymous with the highest level of whiteness, a trait revered in the diamond community. He further emphasized its “internally flawless” clarity, signifying unparalleled purity in gemological terms.
The allure of this NFT extends beyond the digital sphere. The owner has the liberty to hold onto the digital token or claim the physical diamond. Opting for the latter would trigger the “destruction” of the NFT on the platform, making way for the precious stone to be shipped to a designated address or to be collected in person from Liechtenstein.
Tiamonds has already mined 200 diamonds on its platform, recording a sale of approximately 60% to 70%. The range of NFTs available caters to a diverse spectrum of investors, with the least expensive tokens obtainable for a few hundred dollars. This venture reflects a broader vision of making gem investments accessible, transparent, and free from the traditional complications of diamond trading.
A 100 Billion Dollar Market
“The diamond industry represents a market of 100 billion dollars, while diamonds seen as an investment are only 2 billion to date,” explains Monty Metzger, founder of LCX, at the CV Summit Crypto Valley conference held in Zug, Switzerland. This glaring disparity underscores the bottlenecks of liquidity, high custody, and transportation costs that have historically tethered the diamond industry. However, the dawn of tokenizing real assets promises to disentangle these shackles, offering a fluid marketplace that reconciles the physical with the digital seamlessly.
The debut of a $1.2 million diamond NFT on Tiamonds is a shimmering testimony to the transformative potential of blockchain technology in reshaping asset ownership and trading. The splendor of this endeavor reflects the boundless horizons awaiting at the convergence of the material and digital realms, underpinned by robust blockchain frameworks.
A $1.2 Million Diamond Tokenized as NFT Shines on Tiamonds Marketplace.
