$112.5M Emerald Embedded Stone Up for NFT Auction June 2, 2021
Collectors who hold the tokens will be part owners of the 253lb. emerald, which entitles them to membership of a private social club and attendance at an annual gathering featuring access to the stone.
MIAMI, Florida – A 250-pound emerald worth $112.5 million will be the subject of an historic non-fungible token (NFT) auction, in which collectors could trade Ethereum for tokens that represent a stake of ownership in this rare, valuable mineral.
Collectors who hold tokens will be entered into an exclusive social media club with other collectors, where they can network and discuss shared interests. Annually, there will be a celebratory event where collectors may access the emerald, as well as socialize and network with one another.
“They’re not just buying a theoretical stake in this extremely valuable asset, but also joining a vibrant community of diverse, interesting people,” said Edward J. Rodriguez, co-founder of BPN Capital Group, the company managing the NFT auction. “We view this as not just an historic opportunity for people to own a piece of natural art, but also a demonstration of the true power blockchain has to transform the real world and bring people together.”
At the auction, which will be hosted Wednesday, June 2, collectors will be able to purchase NFTs representing ownership of the emerald embedded stone with Ethereum (ETH) via two platforms: Rarible and OpenSea.
BPN Capital Group will announce the link via its Twitter feed the day of the auction.
“We’re thrilled to be able to extend a stake of ownership in this breathtaking piece of natural art to enthusiasts, collectors, geologists, and experts around the world,” said Max Pomeranz, general counsel to RX Law Air, which currently owns the emerald. “This is new territory, so we’re very excited to be the first to tokenize an emerald like this. And it’s a great opportunity for those who appreciate this stone.”
The stone was excavated from a region in Brazil, well known for its production of splendid gems. In the appraiser’s report it was remarked that the stone is “a fine mineral specimen with beautiful Emerald crystals, some of them in gem quality, in an impressive amount, color, and preservation, besides its unique shape.” The appraiser also noted, “It is the perfect answer to a collector’s unstoppable quest for individuality.”
“This stone is something to behold, truly,” Rodriguez said. “To have the privilege to spend time with it, see it and touch it once each year, amidst others who appreciate the beauty and energy it brings to the room, is something really special. And it is blockchain and NFTs making the establishment of this community possible.”
A similar stone that was unearthed in the same region in 2017 valued at $309 million, underscoring how valuable the natural minerals of this region can be.
Non-fungible tokens (NFTs) are unique digital tokens based on blockchain technology. NFTs can be used to represent ownership in an asset, typically a piece of art or other unique treasure, that can then be traded, bought, and sold. The proof of ownership NFTs provide is verifiable by a unique, encrypted hash that cannot be forged or replicated. NFTs enable many people to own a fractional stake in a work of art or other asset, reducing entry barriers inherent when investing in high-valued assets.
About BPN Capital Group
BPN Capital Group is a DeFi multi-service Firm powered by a network of professionals, and which utilizes Blockchain and NFT technologies. The company is dedicated to developing real-world use cases for this new revolutionary Blockchain technology, that includes the tokenization of hard assets for improved accessibility to lending, investing and ownership.
Founded in May 2019, BPN Capital Group was built on the proposition that Blockchain and NFT technology is highly beneficial but underutilized due to lack of accessibility and real-world use cases. BPN Capital Group’s mission is to solve such problems and help lay the groundwork for mass adoption of Blockchain solutions in the business world. BPN Capital Group does this through hard asset tokenization, commercial lending, and referral agent membership programs.
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