Authic Labs, a leader in Web3 customer loyalty solutions, and Aurus, pioneers in the tokenization of precious metals, have announced a strategic partnership aimed at reshaping industry standards and exploring new frontiers for Real World Assets (RWAs) within the realm of digital collectibles, particularly Non-Fungible Tokens (NFTs).
This collaboration seeks to leverage the strengths of both companies, introducing initiatives such as gold-backed NFTs and blockchain-powered loyalty programs. The primary objective is to enable brands to engage audiences with digital collectibles backed by the tangible value of physical gold. These NFTs, redeemable both digitally and physically, present innovative possibilities for traditional companies looking to venture into launching their own collections.
One of the challenges for brands entering the digital asset space has been the perceived speculative and volatile nature of these assets. By linking NFTs to gold, brands can establish a stable price floor for their collectibles. This not only safeguards their brand and community from potential market downturns but also introduces new dimensions of utility.
Authic Labs will integrate tGOLD as a loyalty rewards tool on their platform. Aurus, on the other hand, will integrate the Authic Labs interactive Decentralized Application (DApp) on its platform, offering users various functionalities, including minting and burning tGOLD tokens into NFTs, participating in staking, governance, and Decentralized Finance (DeFi), among other features.
Enhancing the practical uses of tokenized precious metals during their collaborative efforts will significantly benefit AurusX (AX), the Aurus ecosystem token. AurusX tokens can be staked to claim monthly rewards in tGOLD, tSILVER, and tPLATINUM, as well as to vote on ecosystem proposals. These rewards are generated from various transactions within the Aurus ecosystem, including NFT mintings.
Wouter Kloosterman, CEO of Authic Labs, expressed excitement about the partnership, stating, “Our partnership with Aurus marks a new era where Web3 technology and real-world precious metals intersect. Integrating cutting-edge technology with traditional assets sets a new standard for value and utility in the digital collectibles space.”
Mark Gesterkamp, CCO of Aurus, echoed this enthusiasm, saying, “We are very excited about our collaboration with Authic Labs, which promises to bolster our presence in the NFT space. Our conviction is that brand engagement will onboard the next mass wave of users to crypto. Adding the value of gold to digital collectibles will redefine its utility and improve overall user experiences.”
About Authic Labs
Authic Labs, founded by a group of Web3 experts, is a leading provider of blockchain-based loyalty programs, offering NFT minting, easy wallet creation, digital memberships, and a range of payment options. Their comprehensive dashboard facilitates tracking and analyzing NFT holders, enabling instant rewards like discounts, event tickets, and exclusive experiences.
About Aurus
Aurus pioneers the tokenization of precious metals with a mission to democratize access to gold, silver, and platinum. Identifying modern use cases in DeFi, gaming, and NFTs, Aurus aims to re-establish precious metals as viable investments and currencies of the future.
Photo by Scottsdale Mint on Unsplash
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