(MENAFN- GlobeNewsWire - Nasdaq) $JCT will provide the gateway to the $50 billion-plus jade industry, which surpasses even diamonds in markets like China
London, UK, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Jade City , which is pioneering the tokenization of jade gemstones, today announced the release of its white paper, which details how the platform is tokenizing and democratizing access to the $50 billion-plus jade market through the upcoming launch of the Jade City real-world asset (RWA) tokenization platform.
The Jade City white paper outlines how their unique platform will kick off a new era of RWA tokenization when it launches later in 2024. The white paper details a totally novel approach to RWA token economies and how Jade City will use its jade supply and value chain to generate sustainable revenue for holders of its native Jade City Token ($JCT).
The project's jade-backed bond issuance platform allows users to put their stablecoins to work earning tokenized physical jade at high interest rates. The tokenized jade can then either be traded or used to play for the chance to increase your yield by winning highly valuable jade stones from gamified jade loot boxes.
Jade City generates profits through the discounted purchase, processing, and sale of jade. This value chain is fuelled by the purchase of the jade backed bonds and Jade City's existing jade inventory worth several million dollars. Profits generated will be channeled back to $JCT token holders through a“buy and burn” mechanism. The platform has been designed by leading blockchain experts to be safe, secure, robust and transparent.
The Jade City team has partnered with the owners of the world's largest jadeite mine to secure one of the most substantial holdings of jadeite in the world and furthermore has sales channels established through some of China's largest jade distributors.
More details about the platform and its tokenomics can be found in the white paper available here .
Jade City was founded by James Bowater and is led by CEO William Ralston-Saul and CTO David Atkinson. Ralston-Saul is a seasoned builder of mining companies and a cryptocurrency expert who founded InCrypto Hub and runs blockchain boot camps to teach others about the technology and its applications. In parallel to his work with Jade City, William is CEO of Jade Vault Ltd, an ethically sourced jadeite offtaker, which is aiming to build and trade the largest inventory of Jadeite in the world. CTO Atkinson is a renowned tech innovator and co-founder of Holochain, Holo, Rain, and Gild Lab.
William Ralston-Saul, CEO of Jade City said: "Our white paper offers a comprehensive account of how we will democratize access to the $50 billion-plus jade market for investors who have never had access before. Jade is uniquely positioned to be a perfect example of how real-world asset tokenisation can revolutionise an ancient market, making it accessible and lucrative for anybody who wishes to participate.”
Jade has been a precious stone revered in Asia for thousands of years and the demand for jade has been soaring. Currently, the estimated value of the jade jewelry market in China is approximately $50 billion, increasing tenfold since the turn of the century and, in China, even surpassing the size of the diamond market. However, for much of its history, jadeite has been a gem accessible to few and plagued by black market activity, poor mining practices and political issues. Jade City is in a unique position to democratize global access to the jade value chain, utilizing the blockchain to provide accessibility, transparency and trust to one of the world's largest gemstone trades.
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About Jade City
Jade City is a RWA platform specifically designed to democratize the jade value chain through DeFi and tokenization. It opens up the highly lucrative $50 billion Jade market to a global community.
Jade City is co-founded by the owners of the world's largest jade reserve. Therefore, the initial focus will be monetizing access to this unique asset in order to generate revenue. Profits generated by the platform will be used to buy and burn the token, channeling value directly back to token holders.
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