A new gold-backed crypto and NFT ecosystem is making waves in the crypto community. This new digital ecosystem provides a stable entry point into the cryptocurrency market for those looking for one. Since the dawn of civilization, gold—a valuable metal prized for its durability and scarcity—has served as the main store of value. Gold was valued for thousands of years by traders and investors.

Even in the modern age, a nation’s gold reserves are a crucial sign of how robust and stable its economy is. It is a testament to the persistence of old traditions that governments and central banks around the world maintain thousands of tonnes of gold in reserve as a safety measure, even after the gold standard was mostly abandoned in 1971.

In the age of cryptocurrencies, a digital form of gold has evolved. The use of blockchain technology has made it possible to publicly prove and trace the digital ownership of any asset, including gold reserves, which may now be represented by tokens backed by physical gold.

Gold-backed tokens are correlated with the current price of gold in the same way that stablecoins such as Tether and USD Coin are correlated with the US dollar. Gold-backed cryptocurrency tokens provide stability for investors seeking to protect themselves from market fluctuations and inflation. They also make gold more easily accessible to a broader audience by facilitating worldwide gold investing.

The Gold Sector Joins the Crypto Space Via the New Gold-Backed Crypto and NFT Ecosystem

The International Precious Metals Bullion (IPMB) coin, backed by gold, and its corresponding Globally exchanged Metal (GeM) nonfungible token (NFT) are the products of International Precious Metals (IPM). They are a group of precious metals experts with over 250 years of combined industry experience.

IPM has developed a traceable method, from the mining of gold to the minting of tokens backed by gold on the blockchain. This method will result in a vertically integrated coin. The company operates under environmental, social, and governance (ESG) compliance. One IPMB is equivalent to one gram of real gold. Unallocated investment-grade gold stored in accredited vaults such as Brinks or Sharps Pixley serves as the collateral for each IPMB. Grant Thornton, one of the most significant audit, tax, and advisory firms, audits the IPMB vaulted stocks.

Without having to keep and safeguard actual gold bars, holders of the IPMB utility token can profit from the stability of physical gold. IPMB holders do not have to worry about counterparty risks or management expenses related to traditional financing products based on gold. Instead, they can access the underlying asset directly with the security of 100% physical gold backing. The Changelly cryptocurrency exchange will begin trading IPMB tokens on October 30. Users can store IPMB tokens in compatible crypto wallets.

Gold-Backed NFT

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One of the main components of the IPMB ecosystem is GeM NFT, which can be exchanged for traceable, sustainably manufactured pure gold bars. Every GeM token has a varied size, which corresponds to a particular quantity of gold.

Users who hold IPMB for a year are qualified for a 12% discount on switching to the GeM NFTs, which can be redeemed for physical gold.

Highlighting the potential of the IPMB ecosystem as a safe, secure, and trusted resource backed by gold, John Vakis, the founder and CEO of IPM, said:

“We are providing a community-based ecosystem where owners can have liquidity, save, and earn on their holdings. The IPMB achieves this with full ESG compliance, product certification, and international quality standards.”

Finally, gold-backed tokens have enormous potential to draw in users who are wary of cryptocurrency volatility as the market seeks stability to draw in more participants. IPM wants to use blockchain technology to create a link between the flexibility of digital currencies and the stability of conventional gold. IPMB will do this by establishing a safe and reliable gold-based ecosystem.