Report Reveals South Africa’s Famed Krugerrands Collection Set to Be Tokenized – The old Zuid-Afrikaansche Republiek (ZAR) coins will be tokenized by the South African Web3 tech firm Momint in conjunction with two gold coin dealers, the Scion Shop and the South African Gold Coin Exchange. Even the less wealthy enthusiasts can now possess some of South Africa’s renowned coins thanks to the availability of tokenized ZAR coins.
Holders of ZAR non-fungible tokens (NFT) are also co-owners of the actual coins, according to an explanation provided in a report by IT News Africa. All of the coins, including those struck before the South African War of 1899, are being tokenized.
Momint is believed to have stated that its NFT marketplace will accept credit card purchases in order to ensure that the tokenized coins are available to many people. The company added that it will create a cryptocurrency wallet for each buyer. The starting price for collectors will be $200.
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The Krugerrand coins, which were made of gold, silver, and bronze and were first issued in Germany in 1874, are said to have maintained an extraordinarily good condition and are “graded highly” by the grading company PCGS. Thus, Een Pond, one of the coins, is today estimated to be worth $14,087 (240,000 rands) from its original value of one rand in 1893.
South Africa’s Famed Krugerrands Collection Set to Be Tokenized – Holders of the tokenized ZAR coins, like those of physical gold, may be insulated from some of the effects of the upcoming downturn as the world braces for yet another recession.
