May 6, 2021-- Dubai UAE - Icecap, LLC, the first company to offer diamonds via NFT “token” technology and has launched a line of high-end diamond and jewelry collectibles.
The tokenized “Icecap Collectibles” will include very high-end, natural diamonds in red, yellow, green and other colors, plus unique finished jewelry pieces. A US$3 million red diamond is included in the first offering.
“NFT technology has opened up diamonds as an asset class for diversification,” explained Jacques Voorhees, CEO Icecap. “Diamonds typically out-perform inflation, but now—with NFT technology—diamonds can be bought, sold, and traded almost as efficiently as gold and silver. Thanks to NFTs, we might say the world’s hardest asset is now liquid.”
“The Covid lockdowns put a strain on many industries,” explained Icecap’s GCC Representative Elena Barakhova, CEO of Glaze Diamonds. “Many diamond transactions simply weren’t able to happen. But NFT diamonds can be traded easily, with blockchain technology, regardless of lockdowns or any other physical impediment.”
“Interest in diamonds as an investment goes back over a thousand years,” continued Voorhees. “But diamonds are not fungible—each one is unique. The technology of non-fungible tokens now makes it easy to trade this asset class without the friction of having to track the physical product itself—which is kept secure, vaulted, and insured.”
Icecap’s diamond tokens are traded on the world’s largest NFT exchange, OpenSea.io. “Icecap is one of the best examples of using NFTs to expand trading efficiency beyond virtual assets, to real world products,” noted Devin Finzer, CEO of OpenSea. A buyer can hold the token as a hard-asset for diversification or for collecting, sell the token to liquidate, or redeem the token and take delivery of the physical diamond itself—which can later be re-tokenized if desired.
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