333 limited edition art NFTs will be available for private sale on January 11, followed by a public auction on January 18.
Diamond Dawn, the first NFT project of its kind, was created by Mike Moldawsky with the collaboration of Moldawsky Diamonds and the renowned artist David Ariew. Tony Herrera is an experienced entrepreneur and innovator within the web 3.0 space.
This project uses blockchain technology and NFT technology to promote ethical and transparent sourcing of diamonds.
It is the brainchild of Mike Moldawsky, an entrepreneur from the well-respected Moldawsky family that is steeped in the history and development of the diamond industry.
David Ariew is a prominent NFT artist worldwide. He recently sold an NFT artwork at Sotheby’s worth $224,000. He is the designer of 2 of the 3 Beeple X Madonna nFTs and has collaborated extensively with top artists such as Katy Perry, Zedd and Deadmau5.
Tony Herrera is a visionary who has a long history of innovating and building in the areas of cryptocurrency, blockchain, NFTs, and other related technologies. Galaxis is his founding member. He also founded several DAOs that are dedicated to the metaverse such as ReadyPlayerDAO, NeonDAO and MeebitsDAO.
The Diamond Dawn NFT Project
Diamond Dawn is a project that matures in six months. The four phases of the project are very similar to the natural diamond processing in the real world.
These steps are made possible by an interactive interface created by Asaf Singh, an expert in web design with 15 years of experience specialising in parallax and unique visual experiences.
The first phase will see the collector mine a digital Rough Stone from Diamond Dawn’s virtual mine. The collector will then go through two more phases, where they will refine their diamond until it is perfected to the digital diamond designed and created by David Ariew.
Box opening – Moldawsky’s luxury design that measures 25*25*25cm and weighs 8kg
The fourth and final phase of the process is when the collector must decide whether to keep the virtual diamond or have it transformed into a physical diamond.
If they choose the physical diamond they will be gifted a limited edition art piece in the form a Moldawsky-certified GIA-certified diamond. The physical diamond will have the exact same characteristics as the NFT diamond in terms of colour, shape and carat weight.
The project’s most important feature is that the NFT backing the physical diamond is destroyed by being burnt. This will give the NFTs a greater scarcity value, possibly making them more valuable than the physical diamonds.
The vault houses the diamonds, which are kept at the Moldawsky Diamonds vault. It is located inside the Israel Diamond Exchange, which has the largest diamond exchange in all of the world.
The project’s goals
Primarily, the Diamond Dawn Project aims to demonstrate the power of decentralised NFT technology in solving the real problem of certification fraud and manipulation within the $100 billion diamond industry.
NFT and blockchain technology can be used to verify and certify a diamond’s provenance. This will allow for the tracking of diamonds from conflict areas, also known as blood diamonds. This will allow the industry to have transparency and ethical sourcing.
The project seeks to balance the real-world asset with its virtual-world counterpart in the form of its paired NFT.
The market, represented by the Diamond Dawn collectors will decide whether the physical diamond or its digital representation. How many of the 333 NFTs must be burned before the NFT’s value is comparable to the physical diamond? Which one will be worth more?
Only submissions to the official website are accepted for the Diamond Dawn project. After being accepted as a collector, the individual will be given two invitations that they can share with potential collectors. This allows the public to create the collector community, rather than the project team. There is a limit to two NFTs per collector.
If you’re interested in learning more about Diamond Dawn, you can also view a short introduction video on the Diamond Dawn Twitter account.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.