South African gold coin exchange The Scoin Shop and Momint have partnered to create tokens based on an exclusive collection of South African coins.
Rare gold collectible Kugerrands, South African Zuid-Afrikaansche Republiek (ZAR) coins will be tokenized and available to potential buyers starting at $200 each. The collection will also include an 1892 ‘red-brown penny’, so named because of the unique color that was obtained from improper mixing of copper when currency production was moved to Pretoria.
The tokenized coins will be minted by technology firm Web3 Momint and will be available for sale on the NFT market.
The complete tokenized set includes ten denominations of ZAR coins minted before the Second Boer War of 1899, and is valued at approximately $1.2 million. Token holders, along with the purchase of NFT, will receive ownership of part of the physical collection, becoming its co-owners.
According to information provided by Momint, buyers will not need any experience with cryptocurrency or blockchain to purchase tokenized ZAR coins. The Momint marketplace will support the sale of NFTs using bank cards, as well as independently create a crypto wallet for each owner.
In June, the government of the Central African Republic (CAR) announced its intention to tokenize its natural resources to attract foreign investment and more in-depth use of the blockchain.
Source: Bits
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