{"id":316610,"date":"2024-06-04T20:52:22","date_gmt":"2024-06-04T15:22:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=316610"},"modified":"2024-06-04T20:52:22","modified_gmt":"2024-06-04T15:22:22","slug":"historic-stradivarius-violin-backs-us9-mln-nft-loan-by-galaxy-digital-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/historic-stradivarius-violin-backs-us9-mln-nft-loan-by-galaxy-digital-crypto-news\/","title":{"rendered":"Historic Stradivarius violin backs US$9 mln NFT loan by Galaxy Digital – Crypto News"},"content":{"rendered":"

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Digital assets firm Galaxy Digital has provided a multimillion-dollar loan to Yat Siu, the co-founder of Animoca Brands, using a unique collateral combination of a tokenized 1708 Stradivarius violin and its tokenized counterpart in the form of a non-fungible token (NFT).<\/p>\n

The violin has been valued at over US$9 million. It has a rich history including previous ownership by Russian Empress Catherine the Great.<\/p>\n

The deal may potentially set a precedent for the tokenization of physical assets, which may transform the landscape of collateralization and open up new avenues for investment in high-value items.<\/p>\n

Galaxy Digital\u2019s move to tokenize the Stradivarius violin, a masterpiece crafted by the renowned Stradivari family, represents a fusion of the art world with blockchain technology. <\/p>\n

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The physical violin will be stored in Hong Kong under stringent security measures, ensuring its safety while its digital counterpart facilitates the loan process. <\/p>\n

The process of tokenization involves converting a tangible asset into a digital token that can be traded on blockchain platforms, thereby offering a novel approach to asset management.<\/p>\n

Several asset managers have shared bullish predictions for tokenization.<\/p>\n

In a report late last year, 21.co predicted tokenization<\/a> to scale to a US$3.5 trillion market in a bear-case scenario, or up to US$10 trillion in a bull case.<\/p>\n

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Digital assets firm Galaxy Digital has provided a multimillion-dollar loan to Yat Siu, the co-founder of Animoca Brands, using a unique collateral combination of a tokenized 1708 Stradivarius violin and its tokenized counterpart in the form of a non-fungible token (NFT). The violin has been valued at over US$9 million. It has a rich history […]<\/p>\n","protected":false},"author":2,"featured_media":316612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-316610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/316610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=316610"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/316610\/revisions"}],"predecessor-version":[{"id":316616,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/316610\/revisions\/316616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/316612"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=316610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=316610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=316610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}