How does it work?
The journey begins with the discovery and extraction of rubies and pink sapphires in the pristine wilderness of southwest Greenland. The rubies and pink sapphires from this region are said to be the oldest on Earth. Licensed by the Government of Greenland, Greenland Ruby holds the exclusive rights to mine, market, and sell these precious gems.
Following extraction, the gems undergo meticulous inspection and sorting at Greenland Ruby's advanced facility. Here, a local workforce ensures adherence to Greenlandic law, guaranteeing fair labour practices and working conditions.
Once sorted, preferred partners gain exclusive rights to cut and polish the gems, prioritizing ethical, social, and environmental considerations. This process is meticulously tracked from mine to market, ensuring transparency and accountability.
For safekeeping, the entire inventory is securely stored in vaults within high-security buildings. The Falcon Insurance Public Co. provides comprehensive insurance coverage for added peace of mind.
Each gem is then represented by a fully traceable NFT (non-fungible token). Purchasing an NFT grants ownership of a digital twin of the ruby or sapphire, which can be traded, held, or redeemed for the physical gemstone, thus bridging the gap between the tangible and digital worlds seamlessly.