Collectors who hold the tokens will be part owners of the 250 lb. emerald, which entitles them to membership at a private social club and attendance at an annual gathering featuring access to the stone.
MIAMI, Florida, June 01, 2021 (GLOBE NEWSWIRE) -- BPN Capital Group 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."