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Project 79 combines the traditional precious metals market with blockchain technology. Investors are always looking for innovative strategies to diversify their portfolios and make a safe yield as the international economy develops.
We recently held a live stream explaining Asset Tokenisation and the story of P79 -
Project 79, a cutting-edge investment marketplace, blends the security of actual gold bullion with the convenience of crypto-based platforms. Project 79 offers a revolutionary approach to investing in gold and profiting from the digital currency market.
Gold has traditionally been a safe investment in uncertain economies. Gold's tangible value and track record make it a reliable store of value. Despite its youth, the crypto market is also growing and gaining popularity.
Project 79 blends cryptocurrency's flexibility and security with gold's stability and security. In its infancy, the team has inked contracts inside an existing supply chain to buy actual gold bullion at LBMA market rates and sell it directly to a Dubai refinery.
Project 79 started off by giving people a chance to invest in physical gold bullion trade opportunities through a crypto-based sacrifice platform. The founders had contracts to buy gold bullion at below LBMA market rates and sell it directly to a refinery in Dubai. This was part of an existing supply chain.
Investors, or "sacrificers," as the platform called them, could give up a stable coin like USDT or USDC to Project 79 in exchange for a 6-month lock into the platform. After this time, the investors got all of what they put into the business back. (plus yield)
Investors received a consistent monthly return on investment (ROI) of 4–7%. These rewards, which could have been claimed monthly in the form of a stablecoin or added back to the initial sacrifice, could have raised the maximum projected annual return from 84% to 125.219%.
The platform ran on the Ethereum main net, and sacrifices were made in USDC or USDT ERC-20 tokens. It's important to know that all gold bullion was insured and moved by Brinks, a professional logistics partner, from the time it is bought to the time it is sold.
The first sacrifice period ran from August 10th to August 31st, 2022. For the first period, the minimum sacrifice was $1,000 in a stable cryptocurrency coin. For the rest of the periods, the minimum sacrifice was $500.
Overall, Project 79’s first model gave people who want to invest in an existing gold supply chain through a crypto-based platform a unique and profitable way to do so. It was a good option for people who were interested in the gold market but didn’t have a way to enter the market themselves.
Project 79 set out to build a new ecosystem based on the success of its older "sacrifice" model. The project is moving toward a model where the gold mines and economic rights themselves are tokenized. This would add another layer of ownership and give investors a chance to make a yield by trading between different tokens. It is also a much more transparent and scalable model.
When it comes to cryptocurrency tokenization, a "token" can refer to a digital asset that is issued on a blockchain. In this context, a "token" is a digital asset that is backed by a certain amount of real-world assets. The token's value would be linked to the value of the underlying asset, and the token could be used to buy and sell fractional ownership in specific gold-based opportunities.
The listed tokens would be digital assets that would represent ownership in the projects the tokens represent. These tokens would be created using blockchain technology during a token generation event (TGE).
During the TGE, investors could buy listed tokens with other digital currencies like Ethereum. After the TGE is over, the tokens will be listed on the P79 marketplace, making it easy for investors to buy and sell them.
Investors who bought tokens will get a share of the money that that specific project makes. This revenue would be generated from a variety of sources, including the sale of gold or other precious metals as well as any other revenue-generating activities associated with the project. Each project and opportunity would have its own white paper and profile for investors to explore.
The performance of each project would determine the yield for their tokens. The higher the yield for token holders, the more successful the project. The yield would be regularly given to token holders in the form of stablecoins according to that individual projects' terms.
One of the best things about these tokens is that they give investors access to the gold market without forcing them to own or store gold. Also, because tokens are based on the blockchain, they are more secure and transparent than traditional gold investments.
Overall, the Project 79 marketplace gives investors a one-of-a-kind chance to invest in the gold market through a digital asset based on blockchain technology, with the potential for high returns and a level of security and transparency not found in traditional investments.