In a context saturated with new Hi-Tech projects at the crossroads of Technology and Finance, trading algorithms driven by AI and other HD Virtual Reality meet-ups, this little box had caused a sensation at the last CES of Las Vegas last January. And yet, it is nothing to say that it is against the grain.
This small box is “My Sardines” (small box, against the tide, do you have it?) Where the improbable but fruitful marriage of the most innovative approaches to tokenization of assets, applied to the most traditional of products that is.
And even if all this sounds like a late April Fool’s Day, and this mixture of genres could make you smile, the project is the team behind My Sardines are not only more serious but even downright demonstrating the relevance of their economic model: a stablecoin backed by a perishable raw material.
And sardine on the cake, the project is audited by one of the independent firms of the “Big 4”, in this case Ernst & Young.
In short, you do not understand anything about the psychology of Bitcoin whales? Join the sardine bench!
Oil in the cogs
You know it, at Bitcoin we like nothing so much as to teach you improbable things in order to distract you for a moment from the state of the markets, or the last amazing forecast of Bitcoin price.
You will therefore be happy to know that the first to have had the idea of packing sardines in a junk can had this enlightenment in 1823! No oil originally, the nobles Sardina Pilchardus (that’s their slightly elegant name) was just crammed in large numbers in obviously too small tin cans – you know the expression.
Consider that the nice sardine in oil is placed not far from the buttery shell on the gourmet scale would be an error of assessment (and even a fault on the land of French good eating): sardines can be a very fine dish and according to connoisseurs do not reach their fullness in taste until after 6 to 10 years of storage to marinate in their oil, well protected from light.
And this is how, like good wines, “vintages” of sardines are thus considered as high quality products. even luxury.
And who says luxury, says rarity, and says value… and this is where you start to catch a glimpse the point of convergence with Bitcoin, crypto and more particularly, stablecoin backed by underlying.
In any case, this is the connection that was made within the My Sardines team at the origin of the project: why not create a stable token, backed, not on a vulgar precious material like gold , or possibly nothing, when it is possible to do it using this fabulous resource?
Indeed, with the “premium” logic of the product, “limited edition” type approaches, a quasi-mechanical valuation as time goes by, the vintage Sardine has all the potential of a most attractive investment product.
In this particular sector of vintage sardine trading, there are a few specialists who gravitate around a product that has historically been valued 15 to 30% per year.
My Sardines has therefore put in place a very simple value proposition: the company organizes fundraising, then takes care of acquiring, storing and taking care of the stocks of boxes of vintage sardines.
Each of these boxes is equivalent to a token SardineCoin (SARD) that you can acquire during ICO phases where tokens are issued.
At your convenience, you can then have these sardines delivered to them to undergo the fate it deserves (accompanied by a salicornia salad, it’s divine), or keep them in order to resell them more expensive in the future. .
1 SARD2020 token = 1 can of sardines from 2020.
The process of creating the ICO value proposition token can be found in the Project White Paper. SARD2020 tokens will have a lifespan of 10 years (the optimal shelf life of our tasty little fish). At the end, these tokens will be redeemed (after informing their holders beforehand).
And every year, a new token – vintage too – will be issued again: SARD2021, SARD2022, etc.
My Sardines, audited by a large international firm
Perhaps because they were a little tired of being boxed, probably because of the exoticism of this completely new stable token, My Sardine chose to be inspected and audited by Ernst & Young. An additional guarantee of the seriousness of the approach. E&Y will thus be responsible for carrying out the inventory audit, keeping good records, so that the consumer / investor is assured of the solidity of the structure.
If this step is important, it is also because My Sardines has just postponed the date of its ICO a few days ago, from 1er April, to July 15.
To remember :
- 75% of the funds collected will be used to buy boxes of vintage sardines (the rest will be distributed on different items, including 2.5% in the My Sardines foundation for the protection of the planet and the animal world, see details on the White Paper)
- At the end, the SARD2020 tokens will be issued
- A exchange platform provided in Q4 will allow exchange and redemption
- The coast of vintage sardines (and the value of the token) will be reassessed at least every month
- The SARD2020 will be listed on an exchange in order to streamline the market (negotiations in progress).
If you want to learn more about this nice project, and maybe take the opportunity to acquire some precious sardines by proxy, it’s time to go visit the official site.
Remember, however, that just like any other asset, investing in the crypto sector is risky and should only be understood with full knowledge of the facts. Do not hesitate to go and update yourself on some rules in this area.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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