Michael Novogratz’s company Galaxy Digital announced that it has tokenized a more than 300-year-old Stradivarius violin owned by Animoca Brands co-founder Yat Siu. The violin was made in 1708, is worth about $9 million, and once belonged to Catherine the Great of Russia.
Galaxy Digital said: “This iconic instrument is renowned for its unparalleled craftsmanship and long provenance, and its tokenization marks a significant advancement in the application of blockchain technology to unlock the value of unique real-world assets.”
Its statement also said that Siu will use the tokenized violin “as collateral for financing Galaxy Global Markets’ business.” (The Block)