South Africa’s Famed Krugerrands Collection Set to Be Tokenized – Bitcoin News

South Africa’s famed Zuid-Afrikaansche Republiek (ZAR) coins or the Krugerrands collection are set to be tokenized and will be available to potential buyers from a price as low as $200. Tokenized coins will be minted by Web3 tech firm Momint and will be available on the firm’s non-fungible token (NFT) marketplace.

Krugerrand Coins Fractionalized

Momint is a South African Web3 tech company that works with the Scion Shop, a South African Gold Coin Exchange and two gold coin dealers, South African Gold Coin Exchange. They plan to tokenize old Zuid-Afrikaansche Republic (ZAR), coins. The availability of tokenized ZAR coins makes it possible even for the less wealthy enthusiasts to own portions of South Africa’s famed coins.

IT News Africa reported that ZAR coin holders who have the NFT (non-fungible tokens) are actually part of the coins. This complete tokenized set includes coins that were minted after the South African War in 1899.

Momint claims that the NFT marketplace will enable purchase by credit card to make tokenized coins more accessible. According to the company, every customer will be able to create their own crypto wallet. The price for collectors is as low as $200

Excellent Condition

Initially minted in Germany in 1874, the Krugerrands, which were made of gold, silver, and bronze, are reported to have remained in exceptionally good condition and are “graded highly” by the grading company PCGS. Thus, from an initial value of one rand in 1893, one of the coins — Een Pond — is now thought to be valued at $14,087 (240,000 rands).

Holders of ZAR tokenized coins could, like holders of physical gold, be protected from the consequences of another economic recession.

Let us know your opinions on the story. Comment below and let us know how you feel.

Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.