The rise of non-fungible tokens (NFTs) has spurred a race against time to tokenize real-world assets. While some create blockchain versions of stocks and real estate, others are tokenizing natural, certified diamonds. It is the case of LCX, a Liechtenstein fintech company allowing users to own Tiamond NFTs, all backed by real diamonds.
The company has already sold 50 Tiamond NFTs and put more up for sale every Tuesday through several drops. Furthermore, LCX rewards those holding onto their blockchain-based diamonds with TIA tokens, potentially earning them a passive income.
Why Tokenize Diamonds?
Currently, tokenization is highly popular in the blockchain industry. This allows projects to provide users with virtual ownership over assets with limited access. For instance, you may not afford to purchase real estate in the real world. However, you could buy “a piece of land” in the Metaverse and access ways of profiting financially from it.
The problem is that not many people outside blockchain know what tokenization means. Moreover, those who attempt to find out rarely pass past the plethora of terms and concepts they have to grasp. As a result, many investors lose potentially profitable ventures. Most importantly, the industry’s growth slows down due to the narrowing investment streams.
LCX, a regulated fintech company from Liechtenstein, plans to use tokenization to educate people about the industry. And the company has decided on diamonds as the tokenized assets that would incite more people to join.
Their products, Tiamond NFTs, are non-fungible assets on the blockchain representing real-world diamonds. That means that every Tiamond NFT has a rare and unique representative in a natural diamond. Buyers don’t get to hold or ever see the actual diamond. Instead, they own its blockchain-based value, which they can sell, trade, or hold for potentially earning a passive income.
Meanwhile, LCX keeps all the diamonds that back the Tiamonds NFTs safely in its reserves. The company is a compliant, trusted technology service provider in Liechtenstein. It abides by the country’s blockchain laws and regulatory framework. Furthermore, all its gemstones have a GIA certification from the Gemological Institute of America. This is the most prestigious authority on independent third-party diamond certification globally.
How to Earn from Holding Tiamond NFTs
You can easily buy a Tiamond NFT from the Tiamonds Marketplace and receive 1 million TIA tokens as a reward. Furthermore, you gain 1 TIA for every minute you hold the NFT and for at least two years. The platform will distribute the tokens to Tiamond owners in an “Own to Earn” model.
The TIA token is a community-driven deflationary cryptocurrency. LCX launched it as an ERC-20 token on the Ethereum blockchain without an ICO or a token sale. Furthermore, the platform uses TIA for its three main functions, Reflection, Rebalancing, and Burn. Simply put, the protocol will charge a 10% fee for every transaction and distribute it like this:
- It will transfer 2.5% into LCX tokens at Uniswap.
- 5% automatic distribution towards Tiamond holders
- It will automatically burn 2.5% of the fee.
The periodic burning of TIA justifies the token’s deflationary nature. This practice should gradually decrease the token supply while increasing its value. In the future, LCX plans to provide TIA holders with governance powers.
You can earn more TIA tokens by following these easy steps:
- Purchase a Tiamond NFT from the Tiamonds Marketplace.
- Hold onto your tokenized diamonds to receive TIA token rewards.
- Buy, sell, or trade your TIA tokens at the LCX Exchange or Uniswap.
LCX plans to make tokenization and tokenized assets accessible to everyone. Its goals include showcasing the profit-earning opportunities of this investment trend and building a community-centered token economy. Lastly, the company aims to further its educational efforts by gamifying its products.