Novem's NNN stablecoin has guaranteed liquidity with over 30 kg in LBMA-certified gold securely stored by Loomis International
VADUZ, Liechtenstein, January 18, 2019 /PRNewswire/ --
Novem is revolutionising the gold industry with the world's safest and most transparent gold-backed stablecoin, the Novem 999.9 (NNN) gold token, which is 100% backed by LBMA-certified gold. NNN Gold Tokens are directly tied to physical gold, stored by industry leader Loomis International. NNN Gold Tokens will be available for purchase in February 2019.
NNN Gold Tokens are minted based on gold held in trust by Novem. Token holders may cash in these tokens for gold at a rate of 100 NNN Gold Tokens per gram with the token price directly linked to current market gold prices. By the start of 2019, over 30 kg of gold, valued at nearly $1.25 million, has been stored with Loomis and subject to regular third-party auditing. The quantity of securely-stored physical gold is projected to more than double with a commensurate number of NNN Gold Tokens minted by the time of public sale.
"For thousands of years, gold has been synonymous with reliable value, but the processes for buying and selling gold have been shockingly inconsistent. The Novem NNN Gold Token will be completely backed by physical LBMA-certified gold, securely stored and audited by industry leaders," said Wolfgang Schmid, the CEO of Novem. "Novem is ready to revolutionise the gold industry with a new level of safety, transparency, and trust based on old-economy gold industry standards for transparency of value and new blockchain transparency of transactions. Novem will help make gold not only the trusted storage of the value of the past but also the trusted investment of the future."
They have also introduced the Novem utility token ('NVM'), for use as a measure of value in paying for services and trading related to their Novem NNN Gold Token. NVM is designed for use as a measure of value in paying for services and trading related to the Novem NNN Gold Token and is purchased on cryptocurrency exchanges. Over $1.035.000 in NVM tokens have been purchased in private sales.
Novem will issue its own certification for businesses that purchase old gold and jewellery gold which will be marketed to their extensive network in the central European gold industry. They will also open physical stores in all major cities of Central Europe. Through these measures, they will provide an economy of scale in the purchase of gold that raises the quality of services provided and value delivered to the consumers and businesses across the precious metals industry.
Novem utilises NEO blockchain technology to digitise assets and automate the management of digital assets using smart contracts. The NEO platform was chosen due to its speed, functionality, and innovative developer community. Additionally, NEO is soon to be hardened against attacks from quantum computing, creating long-term safety for token holders.
To learn more, please visit https://novem.ag
Novem was founded by two long-term precious metals and gemstone experts with experience in international trade including Germany, Austria, and the U.A.E. After seeing countless problems with trust and transparency in the precious metals industry, they knew there had to be a better way for people to safely buy and sell gold. As a result, they founded Novem the creator of the world's safest gold token - the Novem NNN gold token - backed entirely by LBMA-certified gold and built on the advanced NEO blockchain technology for an immutable, secure, and distributed ledger of ownership.