South Africa’s famous Krugerrands collection to be tokenized – Bitcoin news
South Africa’s famous Zuid-Afrikaansche Republiek (ZAR) coins or Krugerrands collection are set to be tokenized and will be available to potential buyers from as low as $ 200. Tokenized coins will be minted by the Web3 technology company Momint and will be available on the company’s non-fungible token (NFT) marketplace.
Fractionalized Krugerrand coins
The South African Web3 technology company Momint, in collaboration with two gold coin dealers, Scion Shop and the South African Gold Coin Exchange, is set to symbolize the old Zuid-Afrikaansche Republiek (ZAR) coins. The availability of tokenized ZAR coins makes it possible for even the less affluent enthusiasts to own parts of South Africa’s famous coins.
As explained in a report published by IT News Africa, possession of the non-fungible tokens (NFT) of ZAR coins means that holders are also part owners of the actual coins. The complete set of coins tokenized includes those minted before the South African War of 1899.
To ensure that the tokenized coins are available to many, Momint reportedly said that their NFT marketplace will support credit card purchases. The company also said it will generate a crypto wallet for each buyer. Collectors will be able to buy from as little as $ 200.
Exceptionally good condition
Originally minted in Germany in 1874, the Kruger Edges, which were made of gold, silver and bronze, are reported to have remained in exceptionally good condition and are “rated high” by the grading company PCGS. Thus, from a starting value of one rand in 1893, one of the coins – Een Pond – is now believed to be valued at $ 14,087 (240,000 rands).
With the world now prepared for a new recession, holders of the tokenized ZAR coins, just like physical gold holders, may be isolated from some of the effects of the economic downturn.
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