As CEDEX works towards disrupting the often-times unclear and exclusive diamond investment industry, we shine a light on the fact that their pre-sale is already a multi-million-dollar success.
The beauty and allure of diamonds cannot be ignored. If you’ve ever thought about investing in them, thinking is probably just about as far as you got.
This is because the billion-dollar industry is shrouded in a sparkling veil of mystery. How can I invest? What is a fair price? What is the resale value of diamonds? These questions are what makes investing in these precious stones problematic for anyone interested.
This murkiness and uncertainty are exactly what CEDEX is trying to combat. The blockchain-based diamond exchange aims to make diamond investing an all-inclusive, simple and efficient endeavor.
Amazing Start to CEDEX Pre-sale
The platform has already achieved phenomenal success with their token pre-sale, which was launched on the 16th of March. In just four hours, CEDEX raised $20 million. This is a fantastic start to their ICO journey. In fact, over the first four days of the pre-sale, the platform has already sold over 26 million tokens, which is more than half of the 50 million available to purchase.
It is clear that the world is taking note of the CEDEX’s goal of democratizing the diamond investment industry. Interested parties still have time to contribute, after they register, as this phase is set to conclude in just under 25 days. However, if the last four days are anything to go by, CEDEX Coins are definitely moving fast.
If you’re serious about being a part of this diamond investment revolution, then these ERC-20-compatible tokens are essential as they are the medium of exchange which will be used on the platform. Investors will be able to buy diamonds with these coins.
The diamonds, which will be available to purchase, will also be tokenized through blockchain technology. This means that if you’d like to buy diamonds on the platform, you’ll have a detailed trade history available as well as ownership- and gem composite information.
In the spirit of inclusivity, investors will be able to contribute in Bitcoin, Ethereum, and traditional fiat currency. At the moment, one ETH will get you 900 CEDEX Coins and of course, access to this fast-growing diamond ecosystem.
How CEDEX Can Help
As the term “blockchain” continues to dominate headlines, it shows that this technology is not just a passing craze. Its inherent characteristics such as efficiency, security, and transparency make it a viable option for many other industries, not just cryptocurrencies.
These benefits are exactly what CEDEX is hoping to take advantage of. Described as being the “first ever certified blockchain diamond exchange”, the platform hopes to allow its members to easily invest and trade in diamonds as they would any other financial asset.
One of the reasons that there is this level of difficulty in diamond investing is also one of the jewel’s strongest attractions – each stone is completely unique. This does, however, make pricing and evaluations a bit tricky as it is done on a case-by-case basis.
Another issue is the fact that even though the industry is a multi-billion-dollar one, most of this money is thanks to consumers looking to buy completed jewelry pieces form jewelers. This means that diamond owners hoping to resell will take a real financial knock.
Also, because of the fact that it is not a preferred or common investment option, possible investors are at a loss as to how to actually proceed with how to invest. CEDEX solves all of these issues.
The platform makes use of another advancement in technology, machine learning (ML). The DEX, which is the platform’s ML algorithm, determines the worth of a diamond based on a range of factors. In essence, the DEX does all of the hard work for investors, allowing CEDEX to even be used by novices and those with very little knowledge of the diamond industry.
If you’d like to know more about CEDEX, have a look at their whitepaper or have a look at their site.
What do you think of CEDEX raising $20 million in just four hours? Is this a precursor to the platform’s future success? Let us know in the comments below!
Images courtesy of CEDEX, DepositPhotos