North West Province, South Africa, August 8, 2022 – Zambesi Gold (Pty) Ltd, a gold-backed Web3 project, has announced its strategic partnership with Floxifor Gold Mine in Amalia, South Africa. With the newly acquired mine in South Africa, Zambesi Gold (ZGD) has already started producing gold which will be streaming to their vault shortly. The ZGD token is backed by this gold and will belong to the token holders.
ZGD is a Web3 project that is creating a token backed by the gold held in their vaults. The ZGD token supply will be fixed, effectively preventing inflation. This fundamental value of each token will rise regardless of the demand for the token or the price of gold. Each token’s gold backing grows by a proportional amount each month. Like genuine gold, the ZGD token is perfectly divisible and is expected to retain its historical and intrinsic value in the future. The immutability of blockchain and smart contracts maintains a user’s ownership securely and openly, much like how gold works.
“The whole idea of the Zambesi Token is that we want a stable token that is going to grow steadily, consistently, and create value.” said Koos van Straaten, CEO of Zambesi Gold.
The partnership between ZGD and Floxifor Gold Mine has put the gold mining-backed project seven months ahead of its initial roadmap.
About Zambesi Gold
Zambesi Gold (Pty) Ltd is a mining company in South Africa specialising in acquiring and developing selected mining assets. This thriving business is backed by real gold, real people, and real mining operations combined with real value. ZGD aims to lead the transition from mining assets to fully backed digital assets.