Swarm Markets to Offer NFTs with Rights to Gold Bars
These new tokens are designed to circumvent the upcoming European Markets in Crypto-Assets Regulation (MiCA), effective June 30, 2024.
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These new tokens are designed to circumvent the upcoming European Markets in Crypto-Assets Regulation (MiCA), effective June 30, 2024.
The team at Swarm Markets believes that gold, when tokenized as NFTs, will not be subject to MiCA restrictions, as these regulations do not apply to non-fungible crypto assets.
Many equate NFTs with monkey-based JPEGs that were sold for millions of dollars, when in actual fact they have the means of onboarding billions of dollars of real and tangible assets onto blockchain,
Swarm Co-Founder Timo Lehes told.
The gold intended to back these NFTs will be stored in a London-based Brink's vault. Users will be able to trade these gold tokens via Swarm Markets’ decentralized OTC platform.
Learn more about the tokenization of real-world assets (RWA) in our review.
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