Jewelry blockchain, NFT services expand online
A company called GXT Tech is the latest entrant into the growing jewelry blockchain market.
The press release mentions the success of Ethereum and Cryptokitties, which was a long time ago, so hopefully the company realizes the digital asset market has involved since those times.
Nonetheless, the company will introduce a "GXT" token, or NFT, technology that utilizes blockchain diamond certificates.
The press release states...
"Authority of GXT TECH said, "If the real certificate is kept will, it will be difficult to determine the authenticity of counterfeit products, and there is possibility that theft cannot be handled. GXT NFT is a unique tokenized digital certificate recorded in the blockchain ledger that can guarantee the diamond is not counterfeit, lost or stolen. It is expected that can play a role of buffer to protect the market from counterfeiting and money-laundering."
GXT is also launching a rewards program which allows for a repurchase of your diamond at 90% of the price within 2 years. More details...
"GXT Tech provides the option through the special reward program, which allows customers re-purchase with 90% of the price after 2 years, if customers purchase diamonds at GXT World (diamond trading platform). At this time, the owners of diamond have to return GXT NFT (Certificate Token) with the diamond together, since GXT TECH is responsible for guaranteeing diamonds by GXT NFT (Certificate Token). Furthermore, in order to allow everyone register their diamonds through GXT NFT, the second renewal service of GXT World is expected to be added soon later."