top of page
  • Writer's pictureGerard Kavanagh

The world according to FIX00

We recently conducted an AMA with Coinsbit, and since we are frequently asked to give a briefing about who and what FIX00 is and what it is trying to achieve we thought the following might prove of interest and use:

1) Please, tells us more about the FIX00 platform. What is its general idea and purpose? The project's purpose is to use crypto technology to improve/disrupt the existing multi-billion dollar luxury auction-based markets that cover not only gems but fine art, jewelry, and antiques. The idea is twofold, firstly, to bring a unique (effectively asset-backed) real-world collectible to the crypto-verse, obviously in digital form - this would be designed to benefit the average person not just the wealthy, and allow them to enjoy the ownership, upside, and protection of such assets for the first time in history Secondly, to offer an alternative fully functional, deep, transparent, low cost, and open market. An inclusive rather than exclusive market. A public and not private market, and a transparent not opaque market. Where real people get to participate and benefit. We have the technological ability, the assets and the dedication to bring this into reality. Our UT proves that point, as I am sure we will discuss later. 2. What collectibles will be present there? And when will the platform will be launched? To begin with, we will be using our own collectible assets, and they are primarily rubies. These we will digitalise and bring to the cryptoverse. In order to digitalise a real-world collectible/asset, you have to "freeze" it in the real world by locking it away securely forever, insuring it against loss, and guaranteeing it can never be sold. The asset can then be reconstituted in the virtual world in the form of an NFT - an asset that can not only be bought and sold but legally owned without regulatory interference in crypto markets. The game-changer is then fractionalising the asset - creating F-NFTs from the one asset. The issuance will, of course, be finite. In essence, you're refining jewellery from a large gemstone - this is obviously a vast & lucrative cartel in the real world and an unregulated one at that. Fractionalisation allows for cheaper and therefore wider access to an asset that has been only available to the super-wealthy until now. Given we have the will, the real-world infrastructure, the technological capability and the assets with an assessed value of more than $16bn, we can execute the platform launch within 5 months. We're 3/4's of the way there now - so we are stress testing systems and working with known third parties minting the best formatted smart contracts which offer the necessary robustness, and quality but also exceptional utility. The only question (and there are ongoing negotiations), is whether we follow the BAYC format of creating our own market/metaverse or jv'ing with an existing platform. On that front, watch this space!. 3. How people can benefit from FIX00 token? Firstly given endless "rug pulls" in the industry we believe and trust, the token will give people confidence and faith not just in our commitment but our ability to deliver. Let me explain. We are issuing a utility token to demonstrate, showcase and introduce the crypto-verse to our methodology. How we freeze and secure a real-world collectible so that it can be reconstituted into its digital form. In the case of the FIX00 token, a 5.4 kg ruby of 16,200 carats, with an assessed value of US$290m is held in a secure depository in Newport Beach California (the Citibank vault to be precise), it is fully insured for its assessed value, and held by FIX00 the company who's Articles of Association details the fact the gem can never be sold. The expenses, from insurance to depository costs, will be covered by FIX00 in perpetuity. All of this is independently verifiable via our website & WP. This collectible has in essence been gifted to the token forever - highlighting not just our asset, but the faith and commitment to the project and its undoubted upside. We don't know of anyone else making such a commitment in these markets. Future offerings in NFT (or rather F-NFT) format will likely have a legally binding trust structure to ensure no sale of the underlying collectible can ever happen, and again all costs will be borne by FIX00. To demonstrate our deep discounted fixed pricing policy (as detailed and promised in our WP), the FIX00 token will be offered at 1/3 the appraised valuation (US$97m), and to show what fractionalisation can do in terms of affordability we have issued 9.7bn tokens at a price of 0.01/USDT This exemplifies our value proposition, which is to leave plenty of meat on the bone for holders to enjoy (hopefully ensuring a vibrant market). How do people benefit from the token, beyond the very valuable ruby that is effectively tied/gifted to it? Well as with most utility tokens the benefit is in gaining exclusive membership to a platform that offers new unique, and valuable (discounted) crypto collectibles. In current volatile markets having such a collectible, store of value, and noncorrelating hedge makes absolute sense. In addition, the token will have other utilities within the platform and one substantial benefit (which we will disclose in the next 2 months). Underlying all of these are the following benefits - authenticity, scarcity, and a store of value. In these troubled times, portability will be singularly important, but beyond that, as Prof Scott Galloway has written: "One of the keys to NFTs will be portability across mediums" When it comes to the F-NFT collectibles obviously you will have ownership, and benefits from these unique collectibles. 4. What are your plans for the future? The sky is the limit. So I have a laundry list of generalities I like to put out there to be discussed. This after all is the fun bit. Ubiquity and utility New product and market applications Challenging an entrenched cartel and auction-based markets that have existed without challenge or improvement for centuries. Expanding the beachhead between asset holders and crypto enthusiasts; bringing in a wider audience. Marrying art with real-world commodities (to make a new entities/products) Branding, incentives/perks & interactions (both on & off-chain)

We value our communities input into how we develop this - what roads can or should be pursued

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

If you don’t want to miss out and are ready to buy NOW, please CLICK here: Coinsbit

The future is filled with promises for us all. We're glad you're with us.

We look forward to growing together:

0 views0 comments

Recent Posts

See All
bottom of page