One of the most valuable violins in the world is now on the blockchain.
What’s happening:
- Galaxy Digital (TSX:GLXY) has tokenized an iconic Stradivarius violin into a digital asset on the blockchain
Why it matters:
- Tokenizing assets has become one of the hottest trends in crypto and also represents a significant use case for blockchain technology to disrupt traditional ownership methods
- The Stradivarius violin represents one of the most expensive individual assets to ever be tokenized
By the numbers:
- The Stradivarius violin is more than 300 years old and is worth approximately $9M USD
Going deeper:
- The tokenizing of the Stradivarius violin will be used as collateral for lending, which will be facilitated by Galaxy Digital’s Global Markets business arm
The intrigue:
- The violin is currently owned by the co-founder of crypto gaming company Animoca Brands
