Lohko partners with Mattereum to launch verifiable gold bullion NFTs

Blockchain wallet platform Lohko announced it has partnered up with London-based blockchain tech firm Mattereum to launch a new ownership model of physical goods that will enable verifiable gold non-fungible tokens (NFTs) to be traded on the blockchain and attached to carbon offsets.

With the Lohko Wallet, investors can safely hold, buy, sell or transfer ownership of physical gold bars, rather than just owning an IOU. Meanwhile, Mattereum’s Asset Passports bind each individually numbered gold bar to an NFT; with legally enforceable smart contracts publicly available on the blockchain.

This new ownership model pioneered by Lohko and Mattereum offers a lens into the sustainable and equitable virtual economy of the future. Verifiable digital identities, authentication, and provenance of each gold bar create transparent inventory information; and allows owners to see whether their assets meet ethical environmental and social standards while automatically investing in carbon offsets.

Moreover, verifiable gold NFTs will also enable artists to bind premium editions of their digital work to physical gold, collectors to buy and sell securely across marketplaces, and investors to have direct digital-physical ownership. The gold bars held in Lohko Wallets are stored in secure vaults maintained by Lohko’s Singapore-based gold exchange partner, Bullionstar.com

Mattereum Asset Passports

The Mattereum Asset Passport is a third-party verified digital identity for physical assets, stored on the blockchain. They can be assigned to a diverse range of asset classes including; fine art, collectibles, luxury goods, aviation parts, consumer electronics, and many more.

Notably, the Mattereum Asset Passport bundles legal and digital agreements which denote true ownership of an object. Further, it provides secure digital provenance, certificates of authenticity, insurance frameworks, and dispute resolution. These smart legal agreements are cryptographically signed & secured on-chain; held in distributed storage networks such as IPFS.

“Gold’s main limitation as an investment category has been that its ownership is difficult to transfer. Typically gold buyers don’t have access to secondary markets; NFT gold in a blockchain does not have this limitation. NFT gold owners are able to sell their gold anywhere and to anyone in any blockchain marketplace.”
– Dr. Antti Saarnio, Lohko’s CEO

Gold NFTs – GoldNFT.io

Gold NFTs are a new type of non-fungible token for physical assets, or digital twins, that are blockchain tokens denoting digital ownership of a tangible good stored on an immutable ledger.

“Once you can do gold, the world’s most ancient asset class, you can do anything. Putting gold on the blockchain in a way that provides such excellent protection for the rights of bar owners; across a wide range of possible scenarios, has taken immense effort and will be a real gamechanger. We hope you will feel able to trust the product of our collaboration completely.”
– Vinay Gupta, Founder & CEO of Mattereum

Source: https://www.cryptoninjas.net/2021/05/26/lohko-partners-with-mattereum-to-launch-verifiable-gold-bullion-nfts/