Market Flashes

Coinsilium signs first crypto-collectibles deal in Gibraltar

17 Dec 2020 | by: Mark Sheridan

Coinsilium (AQSE:COIN) has inked its first deal for a crypto collectible in Gibraltar: a commemorative limited edition crypto postage stamp.

The deal with the Gibraltar Philatelic Bureau will see the collector’s item offered for sale in Q2 2021, with the release tied to a blockchain-based digital collectible, produced exclusively by Coinsilium and RedFOX Labs.

It marks a fast turnaround for the London-based crypto finance specialist, just days after Coinsilium announced it was entering the cutting-edge fintech market

The development is a taster of things to come for the £3.6 million market cap firm. 

Crypto collectibles, also known as ‘non-fungible tokens’, or NFTs, are one of the fastest-growing areas of the retail blockchain market. 

The price of Bitcoin has hit fresh all-time highs above $20,000 per coin in recent days, generating headlines across the world. And interest from investors in blockchain-based products has reached fever pitch.  

Big business is waking up to the possibilities afforded by using blockchain technology to prove ownership of memorabilia or issue digital collectible items. 

In 2019, the £2bn market cap Austrian Post issued a series of limited edition collectible NFT stamps that sold out within days, repeating the feat in 2020 with an expanded offering. 

Both the United Nations Postal Administration and Croatian Post have also issued NFT collectible stamps in 2020. 

And in July this year, the Bank of Lithuania issued a collectable digital coin called LB Coin to commemorate the $53bn GDP country’s 1918 independence. 

And a liquid secondary trading market has sprung up on digital marketplaces like OpenSea, Atomic Hub, Rarible and Decentraland. 

Since July, the NFT market has grown by over 50% to break $150m in trades.

The Company said it is also evaluating opportunities for launching NFTs into other markets including numismatics, gaming, sports, music and art.

In December, Coinsilium extended its deal with Vietnam-based blockchain producer RedFOX, whilst JV partner IOV Labs upped its stake in Coinsilium with a £330,000 follow-on investment.

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This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

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