International luxury jewelry house Mouawad to release Miss Universe crown NFTs


International luxury jewelry house Mouawad today announced its partnership with Icecap, a world leader in creating NFTs for investment-grade diamonds, to offer fractional ownership of the Miss Universe crown created by Mouawad through non-fungible tokens (NFT).

The Miss Universe Power of Unity crown, which was originally worn by Miss Universe 2019 winner Zozibini Tunzi of South Africa and later by Miss Universe 2020 Andrea Meza of Mexico, is currently worn by Miss Universe 2021 Harnaaz Sandhu.

For the first time ever, the unique and legendary icon will be gifted to fans of the pageant via NFT technology, who themselves have the chance to be a part of Miss Universe history.

“As our world increasingly moves towards digitalization, things are becoming possible that would have been difficult to grasp less than a generation ago,” commented Jacques Voorhees, Founder and CEO of Icecap.

“NFTs not only provide immutable proof of ownership of an item, but they can also allow the holder to unlock the digital content associated with that item, in this case about the contest, contestants, contestant stories and the crown itself.”

“Miss Universe is one of the most glamorous and popular competitions in the world today,” noted Pascal Mouawad, co-guardian of the famed Dubai-based jewelry house. “It is inspiring to have an event that extends human ideals of strength, unity, intelligence and perseverance. The crown itself represents the powerful message of these values ​​and is one of the most amazing in the world.

When and if the Power of Unity crown is retired, it will either be placed in a museum and the tokens can be traded indefinitely, or token owners can vote to sell the crown, at auction.

“As we will be using fractional NFT technology for this project,” Voorhees explained, “the smart contract underlying the tokens will allow a majority to essentially ‘vote’ on what will happen to the crown if it is ever removed from the replenishment. historical. If the crown is sold, the proceeds will automatically go to NFT holders at that time.

“We are thrilled that fans have the chance to own a piece of our history,” said Paula M. Shugart, president of the Miss Universe organization. “Miss Universe Organization is proud to partner with Icecap and Mouawad for this exciting opportunity and a new way to engage with fans and reach a wider audience.”

Fractional ownership of the krone will be based on non-fungible tokens from the Ethereum blockchain, which via “smart contract” technology contain their own terms, conditions and trading components. Fractional NFTs are expected to be issued in the second half of 2022, on select crypto-trading platforms, with the initial value set by an expert appraiser. Once floating, the value of the tokens will then be determined by supply and demand.

“We are very happy that the Miss Universe Power of Unity Crown tokenization project is based in Dubai,” said Dr. Marwan Alroui, CEO of Dubai Blockchain Center and one of the most influential people in the blockchain industry. . “Dubai is already a blockchain hub and has also become one of the world’s leading diamond trading hubs. This link to the Miss Universe pageant will hopefully help draw attention to the growing role of Dubai in these industries.

Posted: Friday, March 25, 2022, 10:59 a.m. IST

Previous Russian stock market rallies on first day of trading since war in Ukraine | Russia
Next Hella Pagid announces new Rotek Racing sponsor