Icecap, LLC, the first company to offer diamonds via NFT “token” technology, has launched a line of high-end diamond and jewelry collectibles. The tokenized “Icecap Collectibles” will include unique finished jewelry pieces and sophisticated natural diamonds in red, yellow, green and other colors. The company which recently moved its headquarters to Dubai within DMCC (Dubai Multi Commodities Center), made the announcement during the prestigious launch event held at the Ritz-Carlton Hotel in the Dubai International Financial Center.
The Icecap Collectibles are traded on the world’s largest NFT exchange, OpenSea.io. A buyer can hold the token as a hard-asset for diversification or for collecting, sell the token to liquidate, or redeem the token and take delivery of the physical diamond itself—which can later be re-tokenized if desired.
According to the CEO Icecap, Jacques Voorhees, “NFT technology has opened up diamonds as an asset class for diversification. Diamonds typically out-perform inflation, but now—with NFT technology—diamonds can be bought, sold, and traded almost as efficiently as gold and silver. Thanks to NFTs, we might say the world’s hardest asset is now liquid.”
Voorhees further explained, “Interest in diamonds as an investment goes back over a thousand years but diamonds are not fungible—each one is unique. The technology of non-fungible tokens now makes it easy to trade this asset class without the friction of having to track the physical product itself—which is kept secure, vaulted, and insured.”
Speaking concerning Icecap relocation from the United States to Dubai, Voorhees said,
“In the last twelve months, Dubai has become the primary trading center for diamonds, globally. And the UAE is a world leader in having a stable and well-evolved regulatory framework for the trading of blockchain assets. Dubai in general and the DMCC free-zone in particular, is a natural home for a company that combines diamonds with NFT trading.”