{"id":14038,"date":"2024-06-04T11:28:47","date_gmt":"2024-06-04T08:28:47","guid":{"rendered":"https:\/\/forklog.com\/en\/galaxy-digital-tokenizes-300-year-old-stradivarius-violin\/"},"modified":"2024-06-04T11:28:47","modified_gmt":"2024-06-04T08:28:47","slug":"galaxy-digital-tokenizes-300-year-old-stradivarius-violin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/galaxy-digital-tokenizes-300-year-old-stradivarius-violin\/","title":{"rendered":"Galaxy Digital Tokenizes 300-Year-Old Stradivarius Violin"},"content":{"rendered":"<p>Michael Novogratz&#8217;s Galaxy Digital <a href=\"https:\/\/www.galaxy.com\/tokenization\/stradivarius\/\">announced<\/a> the tokenization of a Stradivarius violin, crafted in 1708 for Russian Empress Catherine the Great.<\/p>\n<p>According to the firm, the musical instrument is owned by Animoca Brands co-founder Yat Siu and is valued at approximately $9 million.<\/p>\n<p>Galaxy will store both the <a href=\"https:\/\/opensea.io\/collection\/stradivarius-the-empress-caterina\/overview\">tokenized version<\/a> of the violin as an NFT and its <a href=\"https:\/\/tarisio.com\/cozio-archive\/cozio-carteggio\/stradivari-1708-empress-caterina\/\">physical counterpart<\/a> in a Hong Kong vault.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe tokenization of this iconic musical instrument, renowned for its unparalleled quality and legendary provenance, marks a significant advancement in applying blockchain technology to unlock the value of unique RWAs,\u201d the company noted.<\/p>\n<\/blockquote>\n<p>Siu is using the tokenized violin \u201cas collateral to finance a credit position with Galaxy Global Markets,\u201d the announcement stated.<\/p>\n<p>In an interview with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/novogratz-s-galaxy-tokenizes-a-316-year-old-violin-to-back-loan?srnd=homepage-americas\" title=\"\">Bloomberg<\/a>, the Animoca Brands co-founder revealed that he uses the proceeds to invest in new crypto-related projects or art.<\/p>\n<p>He aims to allow others to purchase rights to the tokenized violin through a process of \u201cfractionalization,\u201d although this idea is still in development.<\/p>\n<p>Speaking with journalists, Galaxy&#8217;s Vice President of Tokenization, Thomas Cowan, suggested that blockchain capabilities in the RWA sector might soon expand to include real estate as collateral.<\/p>\n<p>In April, Bitfinex Securities <a href=\"https:\/\/forklog.com\/en\/news\/bitfinex-to-tokenize-hotel-construction-in-el-salvador\">announced<\/a> the issuance of tokenized debt obligations for the construction of a Hampton by Hilton hotel complex at El Salvador&#8217;s international airport.<\/p>\n<p>In May, Messari analysts <a href=\"https:\/\/forklog.com\/en\/news\/messari-reports-rwa-sector-growth-to-8-billion\">reported<\/a> that the RWA token segment had grown to $8 billion, driven by \u201cmarket preference for high-yield debt investments.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Novogratz&#8217;s Galaxy Digital announced the tokenization of a Stradivarius violin, crafted in 1708 for Russian Empress Catherine the Great. According to the firm, the musical instrument is owned by Animoca Brands co-founder Yat Siu and is valued at approximately $9 million. Galaxy will store both the tokenized version of the violin as an NFT [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1282,770,1308],"class_list":["post-14038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-galaxy-digital","tag-rwa"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14038"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14037"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}