SafeGem Updates and Business Case
Introduction
16 days have passed since our project began. The team is working tirelessly to deliver on all project goals and deadlines. Rebranding and marketing efforts are ramping up and our developers are closer to finalising our authentication NFT contract that will be used by our partners. Looks like Santa will come early this year and our Q4 product-related plans will be delivered sooner than expected! We take pride in the efficient and task-oriented team we have at SafeGem. Our developers are passionate about the project and are delivering results rather than promises like most other projects on the BSC platform.
Partnerships
What does SafeGem’s business strategy look like? SafeGem is working on developing a far-reaching partner channel throughout the world that produces and/or deals with jewelry and precious stones. We’re strategically acquiring partners that show interest in joining the innovative world of NFTs, a trend that has been blowing up the crypto world since their introduction in 2015. In the first 16 days of our project’s existence, we have already been contacted by leading jewelry dealers interested in entering our beta program. It is clear to us that, in the world of precious stones, paper certification is not safe enough. It’s exciting to see the SafeGem holds the key to revolutionise this industry.
What is an NFT?
A non-fungible token (NFT) is a unit of data stored on a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, representations of luxury items, and other types of goods. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with proof of ownership that is separate from copyright, easier, and faster to obtain. The NFT market has seen rapid growth recently with its value tripling to $250 million in 2020. In the first three months of 2021 alone, more than $200 million were spent on NFTs. The economic momentum NFTs have in the crypto market has exploded. NFTs are also accelerating a larger trend of digital economic innovation as the public is increasingly favoring a crypto-economy.
[Partial reference from: https://en.wikipedia.org/wiki/Non-fungible_token]
Business Strategy
How will this work in practice?
1. A company that produces precious stones or a primary distributor/dealer will have to register on SafeGem’s official website. To determinate the legitimate purpose of this request, they will have to sign their SafeGem contract with a digital certificate. Thus, both us and the future holders of a specific precious stone or jewelry will know that that particular gem came from their company.
2. Once registered, that company will have its own section in our exclusive NFT portal specifically created for our strategic partners.
3. They will be able to generate their own custom-made NFTs (outlined in our partnership contract) with a series of indicators specific to the authentication process of the precious stones they produce/market. The security and safety of this operation will be provided by the blockchain, as they will be the owner of that NFT contract containing their individual specifications. The company/entity registered on our website will be responsible for the authenticity of all data inserted in an NFT. After all, we are aiming to provide our partners and their customers with an easy to keep and highly secure authentication process of their products.
4. Each partner will have a custom-made NFT contract designed to fulfill their requests specific needs and an authentication process optimised for the precious stones they produce/deal.
5. Any of their users will be able to see those NFTs, but only one person can own them. Thus, we can provide an authenticity certificate that can’t be falsified because of the unique particularities of the blockchain.
6. This NFT certificate will be available for viewing on our mobile application.
NFT Marketplace. SafeGem Universe. Charitable actions.
Besides creating an NFT partner portal, SafeGem is planning to have a separate NFT platform for the general public. SafeGem is not only a project; SafeGem is a revolution and a culture with its own universe.
This NFT launchpad will allow artists to upload various NFTs created for sale or bidding. Our hired designers are also currently working on a SafeGem crypto-verse comic strip series that will impersonate other crypto coins as characters, incorporating relevant news and sentiments from crypto culture.
Depending on the artist’s specifications when uploading an NFT, all or part of the income from the sale of such NFTS will be used to support families that have been negatively impacted by the blood diamond fields in Marange, eastern Zimbabwe.
The SafeGem team is committed to giving back and raising awareness of key issues plaguing the precious stone industry, especially those where human rights are being violated. This is why a large part our business case incorporates methods for raising funds and awareness of key issues few want to talk about.
Our native token: $GEMS
Together with the release of our NFT partner portal and marketplace, $GEMS will be transformed to the utility token of such platforms. Similar to other NFT launchpads, you will need to have $GEMS to be able to navigate (upload, vote, bid, purchase) on the NFT marketplace.
