IX Swap, a Singapore-based DeFi and CeFi company that is gearing to launch its security token platform STO Swap, has announced the MS Token (MSTO) as its first listing.
The MS Token (MSTO) is a security token that represents fractionalized ownership in the Millennium Sapphire®, the world’s most valuable sapphire currently valued at $150,000,000.
The token also represents future pro-rata share in the potential profits driven by the NFTs of the Millennium Sapphire NFT Studio created in collaboration with some of the world’s most talented studios and digital artists.
As of writing, the MS Token has already produced $37 million worth of NFTs and is backed with the following tokenomics.
- Total MS Tokens: 150 million tokens issued and in circulation
- Public Sale: 3 million tokens – 2%
- Art Acquisitions: 30 million tokens – 20%
- Incentives: 5 million tokens – 3.33%
- Team: 19.62 million tokens – 13.08%
- MFAI Shareholders: 92.38 million tokens – 61.58%
By listing MSTO, IX Swap users can easily trade and invest in the MS Token right from the app at IX Swap. Upon purchase of the asset, they will gain fractional ownership of the record-breaking gemstone and will be able to trade the token on the platform.
The Story Behind the Millennium Sapphire®
The Millennium Sapphire® was discovered in 1995 in Madagascar and designated as a national treasure with an initial value reported between US$90 and US$500 million.
The record-breaking natural sapphire weighed 12.3 kg (61,500 carats) and was carved as a tribute to the creative genius of humanity and is now valued at US$150 million.
Parts of the multimillion-dollar Millennium Sapphire® were sold as NFTs during its security token offering last November 16, 2021, with 150 million tokens minted as part of the sale. It was conducted by Millennium Fine Art Inc. (MFAI) through its wholly-owned subsidiary, MS Token LLC.
STO Swap – The Security Token Platform of IX Swap
The STO Swap platform is a decentralized exchange (DEX)…
