International luxury jewellery house Mouawad and Icecap, the world leader in creating NFTs for investment-grade diamonds, have signed an agreement to offer fractionalized ownership of the Miss Universe crown, created by Mouawad, through NFTs, Invezz learned from a press release.

This will be arranged through the two companies’ Dubai subsidiaries.

The companies are expected to issue the fractionalized NFTs in the second half of 2022. They will be available on select crypto trading platforms, and an expert will set the initial value. Once listed, supply and demand will determine their value.

Fans of the Miss Universe pageant will have access to the unique, iconic crown for the first time in history.

Jacques Voorhees, Icecap’s founder and CEO, commented:

As our world moves increasingly towards digitalization, things become possible that would have been difficult to grasp less than a generation ago. NFTs provide not merely immutable proof of ownership of an object, but they can also allow the holder to unlock digital content associated with that object—in this case, about the pageant, the contestants, the contestant stories, and the crown itself.

Pascal Mouawad, Co-Guardian of Mouawad noted:

Miss Universe is one of the most glamorous and popular competitions in the world today. It is inspiring to have an event that extends the human ideals of strength, unity, intelligence, and perseverance. The crown itself represents the powerful message of these values and is one of the most extraordinary pieces of jewellery in the world.

When and if the crown is retired, owners of the tokens can vote to auction their portions. Another possible option is placing it in a museum, and holders will be allowed to trade the tokens indefinitely.

Dr. Marwan Alroui, CEO of the Dubai Blockchain Center stated:

We’re very pleased the Miss Universe Power of Unity Crown tokenization project is being based out of Dubai. Dubai is already a blockchain hub and has also become one of the world’s primary diamond trading centres. This connection with the Miss Universe competition we expect will help focus attention on Dubai’s increasing role in these industries.

Paula M. Shugart, Miss Universe Organization President added:

We’re thrilled fans will get the chance to own a piece of our history. The Miss Universe Organization is proud to partner with Icecap and Mouawad for this exciting opportunity and new way to engage with fans and reach a greater audience.

The post Icecap and Mouawad to create NFTs of Miss Universe crown appeared first on Invezz.

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