Viscount Mining Corp (TSX-V:VML, OTCQB:VLMGF) and Lux Partners Ltd have announced a “one of a kind” silver forward sales agreement to add up to 5 million ounces of silver to Lux Exchange, creating the world's first silver-backed Non-Fungible-Token (NFT).
The project generator said Lux Silver NFTs are to be minted exclusively on the Lux Network but will be made available on every major blockchain as a result of the Lux standard for asset-backed NFTs.
"We are thrilled to partner with Lux and provide them with access to an initial 5 million ounces of silver from our property in Silver Cliff, Colorado,” Viscount Mining CEO Jim MacKenzie said in a statement.
READ: Viscount Mining and partner Centerra Gold drill high-grade silver in new veins at Cherry Creek project in Nevada
“Viscount is proud to provide a non-dilutive capital solution for our shareholders which will allow us to accelerate the exploration and development of our properties,” MacKenzie added.
Viscount noted that Lux is a revolutionary platform that combines blockchain technology and real-world asset storage to create a unique investment opportunity.
It added that by combining Viscount Mining's silver to the Lux NFT, Lux investors will have access to a diversified portfolio of precious metals with which to hold and trade on open markets.
Lux is a FinTech company domiciled in the Isle of Man and partnered with a regulated and licensed money transmitter business, enabling institutions to take advantage of blockchain technology use-cases in a tax-advantaged and regulated environment, according to the company.
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
Contact Sean at sean@proactiveinvestors.com