Burden of proof
With markets rediscovering downside risk and secular change underway in terms of an economic cold war and deglobalisation. It is unsurprising to see fear and doubt gaining the upper hand and risk assessment becoming a more prominent tool. As Hamlet put it: "When sorrows come, they come not single spies, but in battalions" This tweet captures the zeitgeist but is inherently sensible in its recommendations:
Quite correctly the burden of proof and indeed performance lies not with the investor but the project. It reminds this scribbler of a question that is always asked in AMA sessions, which I shall once again repeat and then answer (as we have done in previous blog commentaries - but given the burden of proof is our responsibility it is worth reiterating). So here goes, with apologies to those that have read or heard this before from us: "With so many projects being rug pulls and exit scams happening nowadays. What would you offer to the users of your platform to earn their trust and how would it make you different from others projects alike?" Answer We are proud to say our utility token demonstrates what we are going to be doing, it is a clear corroboration of the process we are using to digitalise real-world luxury collectibles, and convey their ownership and value to the virtual world. We have nothing to hide, our companies are set up in the UK, not in low jurisdiction countries/islands, and we have much to share - transparency is thus vital to us and our community. Most importantly we have effectively gifted a Ruby with an appraised value of US$290m to the process, it is tied in perpetuity to the utility token, and importantly should be proof positive of our full commitment to this project. We can safely say we have more skin in the game than any other project in the crypto-verse. From the collectible to the appraisal to how the gem is held - EVERYTHING is verifiable (via the website and/or the WP appendix). Given this colossal commitment and complete transparency with regard to our process to digitalise collectibles, we hope there are no doubts that we are in this for the long haul and dedicated to creating our F-NFT platform for future offerings. Remember this is not a case of "if you build it, they will come " but rather we are not only building our F-NFT platform but we are also supremely confident in our vision and adherence to the project that will be putting our assets (with an appraised value of US$16bn) where are mouth is to start the evolution of platform and new markets. We think our growing community sees our responsibility and obligation and derives the necessary security and trust in the project. We certainly look forward to increasing our interactions as we pass from the utility token issuance to developing the F-NFT project and all the groundbreaking excitement and innovation it heralds. A fllippant tweet might best sum this up:
Back to the Cointelegraph article:
Moving forward, projects will not only have a roadmap, they’re also going to have utility beyond the artwork. We’re already starting to see NFTs with better capabilities than the first generations. For instance, the concept of how NFTs fit into the metaverse has caught on. They’re going to be more than a profile picture, which a lot of NFT projects have been." Again we agree with that premise and partially answered it in a blog commentary: "F-NFT's will be a digitalised version of a valuable collectible (Ruby or Rubys - remember we have real-world assets with an assessed value of over US$16bn), making them a deflationary digital asset and a legitimately asset-backed one. A clear and proven store of value in the real world and now in the digital world. Additionally, as our FIX00 UT example demonstrates through fractionalisation we can offer 9.7 billion in fixed supply and at values attainable for ALL. So while our F-NFTs are not a cryptocurrency, they have a monetary value (both in the real and crypto worlds), are asset-backed, and have the wide base to make them much more a utility in terms of providing a monetary base asset. The other angle: "As we have belaboured in our WP, website and blogs one of our major goals is to solve the problem of breaking down centuries-old business practises, grossly inefficient auction-based markets/cartels catering to the few. This can only be done, as it has throughout history, by employing the time-honored solution that is fractionalisation (that's all a share of a company is in actuality). For a short overview of the FIX00 project 🙂 please use this link: The Start of something new
If you still have questions, we are happy to have you join us. We take great pride in our company and the revolutionary change it heralds. Please feel free to contact us if you need further information or have further questions:: Contact Us
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