Abu Dhabi-based decentralized technology company Ammbr has announced an exclusive partnership with Coinedge International’s Toqn Modular Jewellery, a wearable fashion innovator based in Bangalore, India.
Ammbr will take over the creation of NFTs associated with jewelry pieces, promoting and selling them.Toqn’s jewelry pieces are versatile and fashionable, and owners can play with them to transform them according to their mood.Toqn pieces will be sold as NFTs on the Ammbr NFT platform, and buyers will receive physical objects associated with their NFTs.
The launch of Toqn’s NFT collection comes at the right time. Over the past year, sales of gold decorative items have fallen sharply; by 34% globally and 42% in India. Therefore, this is an ideal time for companies like Toqn to experiment with new ways to attract customers.
“This represents a paradigm shift in the marketing and sale of jewelry, particularly in the valuation and potential resale of collectible jewelry,” said Derick Smith, founder and CEO of Ammbr.” NFTs are fully digital assets that represent physical ownership, but are highly liquid and tradable.”
Toqn NFTs will be available for purchase in BUSD, a US dollar-backed stablecoin on the Binance smartchain network.The Ammbr NFT Marketplace is now also the first NFT platform in the world to offer jewelry NFTs in a US dollar-pegged stablecoin.
Over the past year, a number of studios and creatives have attempted to sell NFT jewelry, a niche that has yet to see widespread interest from its audience. However, with Coinedge International at the forefront of the boom in innovative jewelry design and blockchain technology, and its partnership with Ammbr, perhaps we’ll see a renewed sense of hope for this particular industry.