South African Company Fractions Rare ZAR Coins To NFTs

According to the company CEO, Ahren Posthumous, the NFTs will be launched into the marketplace In three different tiers; Gold, Bronze, and Silver. 

He stated that the company could get only ten proofs coin, which was kept due to non-use. The tokens would also be made more accessible and available to Africans.

Momint Discovers Rare ZAR Coins Worth $1.2 Million

The South Africa-based company, Momint discovered the silver, gold, and bronze coins a few months back. According to historians, the coins named Zuid-Afrikaansche Republiek (ZAR) were minted 130 years ago (1892). 

The coin was the first ever currency used in the 19th century by South Africans, after which Krugerrand gold was issued in 1967. ZAR coins were acquired by Momint, who fractioned the real gold, silvers, and bronze into fungible tokens. The ZAR tokens were broken down into pieces, and each coin was fractioned into tons of NFTs to allow crypto enthusiasts to possess the assets. 

CEO Ahren also stated that non-fungible tokens allow the digital currencies to be backed up, as most digital currencies run on blockchain networks. During an interview, Ahren revealed that the non-fungible token market is gradually divided into two distinct aspects.

The first aspects are based on the real world (backed stability assets) and the digital world aspects that run on the blockchain networks. Although the two aspects intersect, where we find real value, utility in the cryptocurrency space/industry.”

Momint Collaborates With Gold Coin Exchange Company

Following the announcement of the new fractionalized token, Momint has announced a collaboration with a gold exchange company in South Africa. The exchange company, Scoin Shop, is one of the leading exchanges in the gold bullion and numismatics in the South African markets.

According to the agreement between both parties, the gold coin exchange company and the fractionalized coins from Momint will be listed for sale on its platform. The collaboration between both companies will make NFTs and good investing easier for Africans and different developing countries. 

Currently, Momint has minted 1,510 NFTs via the Polygon blockchain network; each token costs around $200 to $12,000. Presently one Zuid-Afrikaansche Republiek (ZAR) coin is worth $1.2 million.

Ever since the inception of Momint in the South-African cryptocurrency and  NFT space, the start-up has been making innovations and setting milestones. The company is leveraging the growing interest in digital collectibles globally.

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