The Dawn of a New Era in Precious Metals Trading with Silver-Backed NFTs
Viscount Mining Corp. has entered an exclusive silver forward sales agreement with Lux Exchange. This deal will supply up to 5 million ounces of silver. The result? The world’s first silver-backed NFTs. The move brings precious metal trading into the digital age.
Forward selling is when a seller agrees to deliver a specific asset to a buyer at a future date and price. This locks in the asset’s worth today, protecting the seller from future price fluctuations.
Jim MacKenzie, Viscount Mining‘s CEO, is excited about the partnership. He said, “We are thrilled to partner with Lux and provide them with access to an initial 5 million ounces of silver from our property in Silver Cliff, Colorado.” MacKenzie highlighted the benefits of forward-selling assets. It offers a non-dilutive capital solution for shareholders. This accelerates the exploration and development of their properties.
A silver-backed #NFT is backed by a physical quantity of #silver. The following article written by @aharmantas of @Proactive_ca discusses the significance of our most recent news. Click to access.
https://t.co/nZW4w49G9j pic.twitter.com/PYj1kQxn0m
— Viscount Mining Inc. (@ViscountMining) April 6, 2023
Jim MacKenzie, Viscount Mining’s CEO, is excited about the partnership. He said, “We are thrilled to partner with Lux and provide them with access to an initial 5 million ounces of silver from our property in Silver Cliff, Colorado.” MacKenzie highlighted the benefits of forward-selling assets. It offers a non-dilutive capital solution for shareholders. This accelerates the exploration and development of their properties.
Lux Exchange Paves the Way for Asset-Backed NFTs
Lux Exchange combines blockchain technology with real-world asset storage creating exciting investment opportunities. Viscount Mining’s silver added to the Lux NFT gives investors access to a diverse portfolio of precious metals. This allows seamless trading on open markets. Lux Silver NFTs will be minted only on the Lux Network. However, they’ll be available on effective blockchains, thanks to the Lux standard for asset-backed NFTs.
Marcus Weller, Lux Partners Limited’s Chief Revenue Officer, welcomed Viscount Mining. He said, “Their commitment to providing high-quality silver aligns perfectly with our mission of innovating a secure and stable exchange platform for our customers.” Lux NFTs are different from traditional silver trading. They provide liquidity and universal access. The move is part of a broader step towards tokenizing physical assets as NFTs.
The partnership between Viscount Mining Corp. and Lux Exchange demonstrates the immense potential and practicality of NFTs in real-world applications. By merging the world of precious metals with blockchain technology, they’ve introduced a new dimension to asset trading and investments. Showcased through the creation of silver-backed NFTs, this paves the way for the tokenization of physical assets and highlights the versatility and adaptability of NFTs.
Lux Silver NFTs offer liquidity and universal access, while also utilizing blockchain technology and real-world asset storage to create unparalleled investment opportunities. This new era of tokenizing physical assets allows seamless trading on open markets and promotes diversification of precious metal portfolios.
Lux, a FinTech company domiciled in the Isle of Man, has partnered with a regulated and licensed money transmitter business. This collaboration enables institutions to leverage blockchain technology use-cases in a tax-advantaged and regulated environment, complete with proper compliance, KYC, and AML procedures.
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