Singapore startup launches world's first gold-staked digital collectibles

 

Bullonix users can get a real life collectable experience by recreating their stable DGX holdings into unique works of art online

Bullionix is a decentralised gold mint that was created to increase the adoption of blockchain technology in a fun, user friendly experience on top of something everyone is familiar with: gold! The team cleverly leverages Ethereum, the gold stable coin DGX, and non-fungible tokens (NFTs) to deliver this one-of-a-kind gold mint. 

 

Jesse Johnson, creator of Bullionix.io.

 

After choosing a mould, the users take on the role of a goldsmith, staking the appropriate amount of gold to create the gold-backed NFT which is immediately minted and deposited into the user’s Ethereum wallet. The goldsmith now owns the resulting collectible to display, share, or sell on secondary markets like OpenSea. If at any time, the owner of this NFT wishes to extract the original DGX (1 gram of gold per DGX), they may do so by choosing the “melt” option. This destroys the NFT and unlocks the staked DGX to be returned to the owner's wallet. Every gold bar backing DGX is always openly verifiable by the public, 24/7, with blockchain technology at digix.global. The DGX vaults, located in Singapore and Canada, are accredited members of the Bullion Association and are fully insured.  

Bullionix launched at the beginning of this month, featuring gold coins that have been designed in collaboration with leading crypto artists like Uwe Dresemann and Nelly Basksht. The roadmap includes exciting integrations with eSports leaders as well.  

Jesse Johnson, creator of Bullionix.io told SiGMA :iGaming, eSports trophies and badges can be awarded as provably rare with on-chain gold settlement. Each Bullionix collectible is represented by beautiful 3D art that needs a proper place to view and enjoy. That’s why the Display Case is a key feature designed to mimic the real-life experience of coin collecting.” 

Jesse will talk more about the use of Blockchain for iGaming at the SiGMA Digital conference in June. Bullionix.io have also submitted their startup application to take part in the SiGMA Emerging Tech Pitch (https://www.sigma.com.mt/events/sigma-pitch/ ), due in Malta this November, Covid-19 permitting.

Get more: SiGMA TV

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