Silver and diamonds enter the crypto market as altcoins and ICOs gain momentum
Companies from various sectors are looking to get a piece of the ever-growing crypto market.
Getting their ventures involved in cryptocurrencies and blockchain technology gives both the company and investors alike the chance of making a huge profit — as crypto could suddenly surge in price.
One of the recent names to enter the crypto community is mining company, Mansfield-Martin Exploration Mining, Inc. (OTC Pink: MCPI). For the company’s investors, the future looks rather exciting as Mansfield-Martin is offering quite the deal for them.
Mansfield-Martin reveals that it has expanded its preliminary arrangement with Qu Ltd. The agreement between the two companies entitles Qu Ltd. to five million ounces of silver doré to provide support for the Silverback initial coin offering (ICO).
Those who are a part of the Mine Run Program as joint venture owners can now choose to get their returns in a few ways: in Silverbacks, silver doré, U.S. dollars, and even in Qu Ltd.’s current ICO, which has a term of 60 days. In the term, all the funds will be returned to the investors if less than 75 percent of the coins are purchased.
Silverback joins list of altcoins with high potential for growth
The Silverback is an alt coin that is operating through the Ethereum blockchain. The altcoin is backed by an ounce of .999 silver each, and Qu Ltd. will provide five million coins in total. As for the price of the Silverback, investors will have to look towards the price movement of Ethereum which is good as the crypto is once again on the green with its price now at $950 per coin.
What makes Silverback different from Ethereum though is that it will have a sliding discount to spot silver pricing. According to the press release, sliding discount will be at “50 percent over the first 10 days; 25 percent over the second 10 days; 10 percent over the third 10 days; and five percent over the fourth 10 days.”
Diamonds and crypto
Mansfield-Martin is not the only company that is trying to integrate the prices of raw material with the cryptocurrency trend. Just a few weeks ago, the diamond-backed CARATS.io was introduced during the Israel Diamond Exchange, reported Haaretz. The prices of each coin will rely on the current price of the valuable stone in the Israeli market. It hopes to boost the industry in the country, and a lot of diamond enthusiasts are already interested in the idea, thus giving the price of CARATS.io more room for growth.
Seeing as Silverback’s price relies heavily on Ethereum’s, it will be a good altcoin to get behind and it could also potentially boost the price of the company’s shares. The forecast for the price of Ethereum is around $2,000 by the end of 2018, per Wallet Investor. Mine Run Program’s members should consider getting Silverback, seeing that it has a huge potential for growth.