Will diamond NFT's launch into the OpenSea market spark a new wave of investment in "real assets"?

Dynamic BlockBeats, CEO Erik& NBSP; ShapeShift, a digital currency trading platform; Voorhees' father, Jacques Voorhees, founded NBSP; Icecap, a company that encodes diamonds, is offering NFT on behalf of diamonds to the OpenSea Marketplace, a website that specializes in selling NFT products. ShapeShift also will soon be able to carry out NFT transactions, Jacques said.

In the past, there have been many attempts to coinize diamonds, other gemstones and metals. But Jacques Voorhees, founder and chief executive of Icecap, said the problem was that they viewed diamonds as an alternative commodity, which they did not. "They're like snowflakes," Jacques said. "Each one is different. All attempts to make irreplaceable objects replaceable have failed.

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Ten-billion dollar market?

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Before the diamond is tokens, all diamonds are authenticated by the American gem society (GIA), and then sent to gems certification and ensure laboratory (GCal), by the GIA laboratory audit certificate, and provide the following guarantee: "if it is found that their ratings are accurate, they will pay the difference, and then use a practical policy to guarantee, confirmed that they have to pay."

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The problem Icecap addresses is that, with no secondary market, it is now almost impossible for retail investors to sell diamonds without substantial discounts. Jacques believes that even though it is currently just a niche market of mostly mystery millionaires and early interest, NBSP; The NFT should still be a billion-dollar market.

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Icecap  Regulatory issues

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After full consultation with his lawyers, Jacques does not believe there is a regulatory problem with NFTs, which represents diamonds:

"They looked closely at what we were doing, how we were dealing with the transfer of property rights, how we were dealing with the sales tax. They raised a lot of questions, but in the end they concluded there didn't seem to be any regulatory issues at the moment." He added that lawyers had advised him to contact all potential regulators if there was any case.

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Erik Voorhees recently said it's time to invest in "real assets." ShapeShift, according to Jacques Voorhees, will also quickly be able to acquire NFTs.

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Text link:https://cointelegraph.com/news/diamonds-are-finally-forever-on-the-ethereum-blockchain

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