South Africa’s famous Zuid-Afrikaansche Republiek (ZAR) coin or Krugerrands collection has been tokenized and purchased from as low as $200 The coins will be available to anyone who wishes to purchase them for as low as $200. Tokenized coins will be minted by Momint, a Web3 technology company, and sold in their non-fungible token (NFT) marketplace.
Fractional Krugerrand Coins
South African Web3 tech company Momint, in collaboration with two gold coin dealers, Scion Shop and the South African Gold Exchange, has announced that old Zuid-Afrikaansche Republiek (ZAR) coins will be tokenized. Tokenized ZAR coins will make it possible for less affluent enthusiasts to own some of South Africa’s most famous coins.
As explained in areportissued by IT News Africa, owning a non-fiat token (NFT) of the ZAR coin means that the holder is also a part owner of the actual coin. The complete set of coins to be tokenized includes those minted before the South African War of 1899.
To make the tokenized coins available to a wider audience, Momint reports that the NFT marketplace will support credit card purchases. The company also stated that it will generate a crypto wallet for all purchasers. Collectors will be able to purchase as low as $200.
exceptionally good condition
The Krugerrand, originally cast in Germany in 1874 in gold, silver, and bronze, is reported to be in exceptionally good condition and is “highly rated” by the appraisal firm PCGS. Thus, from an original value of 1 rand in 1893, one of the coins, the Een Pond, is now considered to be worth $14,087 (240,000 rand).
Now the world is facing another recession, and holders of tokenized ZAR coins are immune from some of the effects of the downturn, as are holders of physical gold.
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