Sunday, December 10, 2023
HomeNFTsNFT CollectiblesViscount Mining Partners with Lux Exchange to Introduce Silver-Backed NFTs

Viscount Mining Partners with Lux Exchange to Introduce Silver-Backed NFTs

Viscount Mining Corp., a precious metal exploration company, has announced an exclusive silver forward sales agreement with Lux Exchange, a blockchain technology and asset storage platform. This partnership will provide up to 5 million ounces of silver, which will be used to create the world’s first silver-backed NFTs. This is a significant step towards bringing precious metal trading into the digital age and presents a new and exciting investment opportunity for investors.

Forward Selling: The Key to Stability and Growth

Forward selling is an effective way to lock in the current value of an asset, protecting the seller from future price fluctuations. The CEO of Viscount Mining, Jim MacKenzie, expressed his excitement about the partnership, stating that it offers a non-dilutive capital solution for shareholders, accelerating the exploration and development of their properties. This collaboration will provide Lux Exchange access to an initial 5 million ounces of silver from Viscount Mining’s property in Silver Cliff, Colorado.

Silver

Lux Exchange: Pioneering Asset-Backed NFTs

Lux Exchange is known for combining blockchain technology with real-world asset storage, creating exciting investment opportunities. The addition of Viscount Mining’s silver to the Lux NFTs will give investors access to a diverse portfolio of precious metals, making it easier to trade on open markets. Lux Silver NFTs will be minted exclusively on the Lux Network, but 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, said that Viscount Mining’s commitment to providing high-quality silver aligns perfectly with their mission of innovating a secure and stable exchange platform for their customers. Lux NFTs are different from traditional silver trading because they provide liquidity and universal access. This partnership marks a significant step towards tokenizing physical assets as NFTs and showcases the immense potential and practicality of NFTs in real-world applications.

The Power of Silver-Backed NFTs

The partnership between Viscount Mining Corp. and Lux Exchange demonstrates the versatility and adaptability of NFTs. By merging the world of precious metals with blockchain technology, they’ve introduced a new dimension to asset trading and investments. Silver-backed NFTs are just the beginning; this paves the way for the tokenization of physical assets, highlighting the immense potential of NFTs in the future.

In conclusion, the collaboration between Viscount Mining Corp. and Lux Exchange marks a significant step towards innovation and growth in the world of asset trading. It showcases the immense potential of NFTs and highlights the adaptability and versatility of blockchain technology. With the creation of silver-backed NFTs, investors can now gain access to a diverse portfolio of precious metals, making it easier to trade on open markets. As the world continues to embrace the digital age, this partnership presents a new and exciting investment opportunity for investors.

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