Galaxy Digital tokenized 300-year-old Stradivarius violin – DiarioBitcoin

It is a violin Stradivarius with more than 300 years of history, which even belonged to Catherine the Great of Russia, and currently belongs to the co-founder of Animoca Brands, Yat Siu.

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• Digital Galaxy tokenized a violin Stradivarius
• This instrument is about 300 years old.
• The violin belongs to the co-founder of Animoca BrandsYat Siu
• The asset generated will be used as collateral for financing

Digital Galaxythe cryptocurrency investment management company founded and led by Mike Novogratz, announced that it has tokenized a violin Stradivarius with more than 300 years old, which currently belongs to the co-founder of Animoca BrandsYat Siu.

A tokenized 300-year-old Stradivarius violin

This was indicated by the team Digital Galaxy in a statement cited by the media The Blockwhere they report that the tokenization of such a musical instrument, with such an interesting and remarkable history, represents a “significant advancement in the application of Blockchain technology to support the value of unique real-world assets.”

The violin in question is an instrument made in 1708, which belonged to Catherine the Great of Russia, and is currently listed at about USD $9 million.

The tokenization of the asset was carried out to generate a guarantee for a financing requested by Siu, which is facilitating Digital Galaxy to enable commercial possibilities.

In this regard, Mike Novogratz wrote:

By tokenizing this Stradivarius violin, we are not only preserving the legacy of one of the world’s most precious musical instruments, but we are also setting a precedent for how the latent value of real-world assets can be accessed and used. By starting with high-end assets like this violin, we are creating a process that will transform the way a wide range of assets are managed, valued and traded in a digital economy.

For his part, the owner of the violin and its digital counterpart, Yat Siu, said he was delighted “to help lead the way in this new economic model for unique assets while preserving and sharing not only a very rare and precious instrument, but also a piece of history.”

Article by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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