Jade City, a platform focused on real-world assets (RWA), has successfully shipped its inaugural batch of jade from its mining partner to a storage facility in Guangdong province, China. This shipment marks a crucial step towards generating profits from jade sales and launching Jade City’s innovative tokenization platform.
Jade City Targets $50 Billion Market by Expanding Operations in Guangdong and Tokenizing Jade
Guangdong is renowned for its jade manufacturing and hosts some of China’s largest jade trading centres. Jade City’s move to send jade to this region positions the platform to tap into the lucrative jade market, which is valued at approximately $50 billion. The company’s initiative aims to make this traditionally exclusive market accessible to a broader range of investors, moving away from the dominance of a few major players.
In July, Jade Vault, the jadeite storage and trading company, raised $2.1 million to initiate production at a jade mine in Kazakhstan. This development aligns with Jade City’s plans for RWA tokenization, which is expected to launch later in 2024.
Jade holds immense significance in Chinese culture, having been revered for over 5,000 years. It is viewed not only as a precious gemstone but also as a symbol of purity, moral integrity, and social status. The value of jade often surpasses that of gold, attributed to its rarity and the intricate craftsmanship required to create exquisite artifacts.
Jade City to Launch Jade-Backed Bonds and Gamified Trading Experience for Investors
Jade City plans to issue jade-backed bonds, providing investors with high yields tied to tokenized physical jade. These tokens can be traded on the marketplace or used in a gamified experience, where investors have the chance to win valuable jade stones from virtual loot boxes.
The company has secured a substantial inventory by partnering with jade mine owners, holding 550,000 kilograms of jade after funding production over the past two years.
Jade City Aims to Offset Myanmar's Supply Disruptions by Introducing New Jade Sources
Historically, Myanmar has dominated the jade market, primarily exporting to China. However, intensive mining has led to the depletion of Myanmar’s jade reserves, and ongoing political unrest has disrupted supply chains. William Ralston-Saul, CEO of Jade City, expressed confidence in meeting demand by introducing a new source of jade to the market.
Ralston-Saul noted the significant impact of jade quality on its value, with prices ranging dramatically from a few dollars per kilogram to millions. He referenced the Cartier Jade bead necklace, which fetched $27 million at auction, as a prime example of jade's high-value potential.
Jade City Plans Buy and Burn Mechanism to Enhance $JCT Token Value Amid Jade Market Growth
Jade City intends to reinvest profits to reward $JCT token holders through a “buy and burn” mechanism, enhancing token value. The jade market in China has grown tenfold since the early 2000s, surpassing the diamond market, but it has faced challenges from black-market activities and poor mining practices.
By leveraging blockchain technology, Jade City aims to democratise access to the jade market, offering increased transparency and accessibility in one of the world’s most valuable gemstone trades.
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