Jade Token Launch Planned for Late 2024

Jade City, a real-world asset (RWA) platform, intends to revolutionize the way precious commodities are accessed and traded by launching its token by the end of the year.

According to the company’s CEO, William Ralston Saul, as reported by CryptoNews, Jade Vault and Jade City are the two business segments. Ralston Saul stated that the jade mining and tokenization businesses have already made substantial progress in digital finance, precious minerals, and fundraising initiatives.

So far, Jade Vault, a jadeite storage and trading corporation, has raised $2.1 million to initiate the production of a jade mine in Kazakhstan. This investment is crucial in gaining access to one of the world’s most coveted and historically significant gemstones.

Concurrently, Jade City intends to raise $1.8 million through a private funding round. Ralston Saul informed CryptoNews that Jade City has raised $300,000 thus far, increasing the total capital raised for the Jade business to $2.4 million.

Founded by James Bowater, Jade City and the Vault division of the business are currently under the leadership of Ralston Saul. Bowater disclosed that Consensus Capital, which had previously invested in Casper Labs, had led the funding round for Jade Vault.

Bowater stated, “The mine is fascinating because it is the largest jadeite deposit on Earth.” Additionally, the jade is ethically mined.

The Importance of Jade

Jade’s importance, particularly in China, is immeasurable. Jade has been held in high regard for more than 5,000 years as a symbol of purity, moral integrity, and social status, in addition to its value as a precious stone.

In Chinese culture, jade is regarded as more valuable than gold because of its scarcity and the intricate craftsmanship necessary to convert raw jade into exquisite artifacts.

The gem’s allure is further enhanced by its scarcity, as high-quality jade, particularly the coveted imperial jade, is uncommon and primarily sourced from a restricted number of locations, such as Myanmar, Guatemala, and Kazakhstan.

Commodity Tokenization and RWA

The tokenization of commodities has emerged as a novel trend. This presents a more innovative method of investing in tangible assets.

RWA tokenization has garnered significant traction as many projects are experimenting with tokenized assets. The market for tokenized assets is anticipated to surpass $2 trillion by 2030, as per analysts at McKinsey & Company.

Tokenization is the process of generating digital tokens on a blockchain that denotes ownership of a tangible asset. This democratizes access to investment opportunities, ensuring that transactions are conducted with greater security, transparency, and liquidity.

Tokenization enables investors to acquire and trade fractions of commodities such as jade. Consequently, the barrier to entry is reduced, allowing a broader range of participants to engage in the market.