LCX, the compliant digital asset exchange based in Liechtenstein, recently launched LCXP. This new utility token enables everyone to unlock ownership of physical platinum via non-fungible tokens (NFTs). Each LCXP token unlocks access to a Tiamonds Platinum NFT. Each NFT is backed by one ounce of platinum, safely stored in state-of-the-art vaults located in Liechtenstein. This new technology is designed to provide all the advantages of digital asset ownership with the safety and security of a traditional precious metal.
LCXP provides a transparent, controlled ecosystem to 3. It makes the customer experience seamless by having on-chain proof of ownership for any real-world platinum input. You’ll see LCXP available and tradable on the LCX Exchange. These features provide a smooth overall experience for users, allowing them to easily mint and use their platinum-backed NFTs. Wealth Minerals’ issued physical platinum is backed by high-security, fully insured vaults located in Liechtenstein and backed by Lloyd’s of London.
Understanding LCXP and Tiamonds NFTs
LCXP is a utility token that acts as a digital access gateway to the LCX ecosystem. As a fungible token that works as an ERC-20 standard token, LCXP is fungible. Each LCXP token is needed to redeem one matching Tiamonds Platinum NFT.
Backed by one ounce of platinum, the Tiamonds Platinum NFT uniquely signifies and verifies ownership of this platinum asset. Though it may be an important implication, it is worth mentioning that LCXP itself does not grant any explicit rights to the underlying platinum. Rather, it simply serves as the key that unlocks the NFT, allowing for ownership that is verifiably true.
Through this system of widgets, users of all kinds can begin to interact with the on-chain proof of ownership. LCXP will be listed and regularly traded against other cryptos on the LCX Exchange. This will ensure that investors have convenient access to liquidity for purchasing platinum-backed digital assets.
Security and Transparency
LCX emphasizes that the physical platinum backing the Tiamonds NFTs is stored in high-security, fully insured vaults located in Liechtenstein. These heavily guarded vaults are intended to keep the assets safe from theft, fire, flood, or other harm’s way.
The platinum is insured by Lloyd’s of London, one of the world’s premier insurance markets. This insurance policy protects against market volatility, providing an additional layer of security and peace of mind for Tiamonds Platinum NFT owners.
LCX considers it their mission to create a safe, regulated and transparent environment for the management and ownership of these digital assets. This would further entail comprehensive documentation, periodic audit of policies and procedures, and adherence to applicable laws and regulations.
The Role of LCXP in the Digital Asset Landscape
The launch of LCXP is a new take on asset tokenization. LCX is on a mission to bridge the gap between traditional assets and the digital world. It does so by minting platinum-backed utility token and using NFTs to denote ownership.
This method can attract a wider variety of investors into the digital asset universe. Third, it prudently takes a page from the cryptocurrency playbook. It attracts investors who value precious metals but who like the convenience and accessibility of owning assets digitally. The LCXP model serves to help diversify your investment portfolio. Not only does it offer more secure and transparent access to physical assets.
The digital asset landscape is changing all around us every day. Innovative solutions such as LCXP will continue to be of critical importance as the future of finance and asset ownership unfolds. Utility tokens, NFTs and physical asset backing combined create a value proposition second to none. With this twin pair, investors get both safety and convenience.
