Novem has raised approximately $1.5 million through gold investors, now making it possible for institutional gold investors to buy, sell, and trade gold on the blockchain through the issuance of the NNN token.
The U.S. Dollar (USD) has remained strong and gold has been unable to break through the $1,350/Oz barrier. But long-term market mavens are waiting for the right moment to move—and when the train gets moving on gold, savvy investors will want to be along for the ride.
The world banks are already getting in on the action, with world banks buying more gold last year than they have since 1971 when the U.S. dropped the gold standard.
But for those looking to buy into gold bullion, there may be a new way to get on board through a gold trading enterprise that has taken to the blockchain, with old-economy standards on assessing and verifying the gold and smart economy standards in transparency and transaction security.
Novem’s NNN token represents a major shift in the gold industry, from gold mining, minting, procurement to gold investors. Through the use of blockchain technology, Novem provides a gateway for investors to purchase gold, with 100 tokens equal to 1 gram of gold.
Novem’s gold is stored securely by the internationally recognized gold storage facility Loomis, who picks the gold up from refineries, then securely transports the gold to a high-security facility in Frankfurt, Germany, which is classified as a security that is tied to the value of gold.
The company allows for gold to be traded on the blockchain with the value being tied to real gold and is classified as a security. Novem’s gold is stored securely by the internationally recognized gold storage facility Loomis, which spans 400 branch offices globally.
The gold is certified by the London Bullion Market Association (LBMA), one of the world’s leading regulators in the gold industry, meaning that all gold purchased from Novem is LBMA-certified gold.
Novem was founded by Wolfgang Schmid and Mario Schober who have more than a decade of experience in the international business of precious metals and stones, in markets such as Austria, Germany, and Dubai.
Novem has future plans to provide consumers with an option to store the gold on the blockchain or select a designated place to receive the gold by delivery. In effect, this allows gold investors to purchase gold within seconds, securing discounts for buying gold in bulk.
The company is being advised by Crypto Valley Venture Capital (CVVC), Nägele Rechtsanwälte, a leading crypto law firm in the Liechtenstein / Switzerland area, and Bank Frick, one of the leading crypto banks in central Europe.
During 2019-2020, Novem has plans underway to further extend the accessibility of gold to institutional buyers by opening up a large network of gold stores that remove hassles like transportation and secure storage, allowing consumers to transact with Novem tokens.