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Galaxy Digital, led by Mike Novogratz, has tokenized a rare 1708 Stradivarius violin once owned by Russian Empress Catherine the Great. This over 300-year-old tokenized violin NFT has been used as collateral to secure a multimillion-dollar loan. The loan was issued to a client, Yat Siu, co-founder of Animoca Brands. The move highlights the potential of tokenizing real-world assets (RWAs) such as collectibles and artwork.
Mike Novogratz’s @galaxyhq has issued a multimillion-dollar loan against a rare Stradivarius violin pledged as tokenized collateral🎻🎶 “This is only the beginning of the potential of RWAs,” said the borrower @yatsiu Read more: https://t.co/IFR8KuEyYK https://t.co/97uVTjGxDH
Mike Novogratz’s @GalaxyDigital has issued a multimillion-dollar loan against a rare Stradivarius violin pledged as tokenized collateral🎻🎶 “This is only the beginning of the potential of RWAs,” said the borrower @yatsiu Read more: https://t.co/IFR8KuEyYK https://t.co/SejgfSY4Cu
Tokenizing Stradivarii For those wondering, the tokenized violin in this thread from @ysiu (h/t @novogratz) is a blockchain use case that has been discussed for some time: tokenizing "collectibles" and artwork. (I talked about it with @wwd, of all places, back in 2021.) The goal… https://t.co/kzcBuwpHb8