Diamond-based NFT token Icecap Diamonds is now available on OpenSea

Startup Icecap said that combining diamonds with Ethereum can diversify assets. Traditional diamonds are difficult to tokenize and diversify due to lack of substitutability, the existence of bid-ask spreads, small markets, and low liquidity. If the diamond is combined with the Ethereum blockchain, this problem can be solved. Icecap uses the Ethereum ERC721 token standard protocol to tokenize diamonds. The only token represents the right to a single diamond and makes the diamond a tradable asset. The buyers and sellers of Icecap tokens only need to pay a 1% transaction fee to OpenSea in the transaction. Assuming there are willing buyers and sellers, diamonds should be able to be sold very close to their purchase price. Once marked, diamonds can now be traded on any crypto exchange that supports the ERC721 standard protocol, and can be bought and sold as easily as CryptoKitty. Icecap CEO Jacques Voorhee is the father of ShapeShift CEO Erik Voorhees. Lianwen query found that the Icecap Diamonds token has been launched on the NFT trading market OpenSea.