In an update earlier today, global tech conglomerate Meta shared news of its latest moves surrounding digital collectibles. From September 29th, subsidiaries Facebook and Instagram will now allow users to link their virtual wallets with their accounts and also share non-fungible tokens. Users Across 100 Countries Can Access New Meta Feature Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries,” Meta announced in a tweet. https://twitter.com/MetaNewsroom/status/1575486040349245446?s=20&t=TpIDHfYcRCtVRMNrwYhWiA…
LCX, the Liechtenstein Cryptoassets Exchange, has announced a new initiative to tokenize diamonds as Tiamonds NFTs. Instead of holding the genuine gemstone, investors can own its blockchain representation and gain cryptocurrency for not selling it.
This project should help average consumers learn more about tokenization and use this technology to earn a passive income. Furthermore, the fintech company puts forward 1 million TIA token rewards for those who buy and hold onto their Tiamonds.
Diamond Tokenization Takes Off
As the NFT craze continues, we witness the tokenization of numerous real-world assets. So far, we’ve seen tokenized stocks, real estate, and commodities. Still, the general public has little to no understanding of this process. Therefore, many potential investors lack significant opportunities that would bring them profit while helping the industry grow.
LCX, a regulated fintech company from Liechtenstein, seeks to raise awareness of tokenized assets. To this end, it launched the Tiamonds NFT project, which involves the tokenization of real-world diamonds.
Each Tiamond NFT exists on the Ethereum blockchain and is backed by a real, certified diamond. Furthermore, holders receive rewards in deflationary TIA tokens. This enables them to earn a passive income over time through the “Own to Earn” model.
So far, the project has already sold 50 Tiamonds NFTs. Also, it puts up for sale 50 more tokenized diamonds in several drops each Tuesday.
LCX wants Tiamonds to be more than one of the hundreds of NFT projects surfacing on the blockchain every week. Instead, it plans them as a way to make tokenization more popular and accessible to regular consumers. In this regard, it will employ three tactics:
- Explain the many opportunities of tokenized assets.
- Educate and inform people through the gamification features of tokenization.
- Provide a community-first token economy with fair-launch and long-term sustainability.
LCX is a compliant, trusted technology service provider in Liechtenstein. The company operates entirely according to the country’s blockchain laws and regulatory framework. Above all, the diamond reserves have GIA certification from the Gemological Institute of America. The latter is the world’s foremost authority on independent third-party diamond certification.
What is the TIA Token?
The TIA token is a deflationary cryptocurrency that puts its community first. The team launched it with three simple functions, Reflection, Rebalancing, and Burn. Furthermore, it should increase in value as its supply drops over time, thus incentivizing and rewarding its holders.
The protocol will automatically charge a 10% fee from every transaction and distribute it as follows:
- Reflection – 5% goes to existing holders
- Rebalancing – 2.5% transfers into LCX tokens at Uniswap
- Burn – 2.5% burns instantly.
LCX launched the TIA token on the Ethereum blockchain as an ERC-20 deflationary token at an initial price of $1. Furthermore, the company wants the token to provide holders with governance power, besides rewards, in the future.
How to Earn Tia Tokens?
Follow these simple steps to buy tokenized real-world diamonds and earn TIA tokens:
- Purchase a Tiamond NFT: Go to the Tiamonds Marketplace and buy a Tiamond NFT, which will reward you with a fixed supply of TIA tokens.
- “HODL”: Hold onto your Tiamond NFT for as long as possible to earn TIA token rewards. For instance, you can gain 1 TIA token per minute for each Tiamond NFT you hold for at least 2 years.
- Earn TIA: Each Tiamond NFT holder receives 1 Million $TIA Tokens as rewards in the “Own to Earn” model over a fixed period.
- Buy TIA: Use the Uniswap or LCX Exchange to buy, sell, or trade TIA tokens. This way, you can boost your income actively.
Currently, tokenization is taking over most real-world assets. And it’s up to community-oriented projects like Tiamonds to educate consumers about the opportunities of tokenized assets. This contribution is essential in involving everyone in the digital economy of tomorrow.