- Lohko and Mattereum have partnered to launch gold-backed non-fungible tokens (NFT) with carbon offsets.
- The NFTs work as ownership over the physical gold stored in vaults in Singapore.
- The NFTs and the physical bar of gold eventually share a unique serial number.
Of note, the non-fungible tokens appear to operate as ownership over the real physical gold stored in the vault. Precisely, in Singapore. Separately, each of the NFTs represents a bar of gold. In addition, the physical bar of gold and the tokens eventually share a unique serial number.
Also, the NFTs have a warranty that ensures that the owner of the token “has full legal rights to redeem the physical gold bar.” As per a report, the NFTs are located via the ETH-based NFT marketplace OpenSea.
On the other hand, the tokens represent one ounce of gold, 10 grams of gold, and 100 grams of gold in a sequential manner. Moreover, one of the 100 gram NFTs features 3D digital art representing a gold bar.
For this, Lohko CEO Antti Saarnio said,
Gold’s main limitation as an investment category has been that its ownership is difficult to transfer […] NFT gold owners are able to sell their gold anywhere and to anyone in any blockchain marketplace.
Furthermore, Lohko is not the only company to bring a tokenized gold. Perth Mint Gold Token (PMGT) claims that it was the first token backed by “government-guaranteed gold”.