Unicoin Makes History with Largest-Ever $210M Crypto-for-Property Deal
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In Brief
Unicoin, the first asset-backed, audited, and SEC-compliant cryptocurrency, has acquired a copper exploration and mineral rights property in Argentina for $210 million in Unicoins.
The deal is a significant step towards fusing traditional industries with cryptocurrency, and it is also timely, as global demand for copper is expected to reach 36.6 million metric tons by 2031.
Unicoin, the company behind the asset-backed cryptocurrency Unicoin, has secured ownership of a prominent copper exploration and mineral rights property in Argentina.
According to the company, the $210 million all-crypto purchase of the Barda Gonzales copper exploration project in Argentina’s Neuquen Province is a significant step towards fusing traditional industries with cryptocurrency. Unicoin signed the agreement with an Argentine corporation Electroquímica Del Neuquen S.A. and acquired the copper mine for 420 million Unicoins, at a valuation of $0.50 per Unicoin.
Alex Konanykhin, CEO of Unicoin, stated that “these valuable property rights significantly increase our total assets, while supporting our ability to raise capital and launch Unicoins, providing benefits to all of our investors.”
The mine’s acquisition comes at an opportune moment, aligning with projections of global copper demand reaching 36.6 million metric tons by 2031. Furthermore, the US Department of Energy’s recent designation of copper as a critical mineral enhances the importance of this acquisition.
The success of the deal hinges on thorough due diligence and the smooth transfer of mining rights from Electroquímica. Once completed, Electroquímica will become the largest Unicoin holder, underscoring the deal’s significance for both cryptocurrency and traditional resource management.
Launched in 2022, Unicoin is the first asset-backed, audited, and SEC-compliant cryptocurrency. The token is backed by a diversified portfolio that includes equity in major worldwide companies from various industries. According to the press release, the cryptocurrency was created to counter the volatility of other non-backed cryptocurrencies.
Unicoin’s approach gathers inventive fundraising tactics, such as the Buy Now, Pay Later initiative and the 140% program, which enables real estate owners to trade their properties for cryptocurrency.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in Literary Studies from the University of Amsterdam and has an extensive background in writing about a wide range of topics including cybersecurity, travel, art, and culture. She has also volunteered as an editor for the animal rights organization, “Open Cages,” where she helped raise awareness about animal welfare issues. Currently, Agne splits her time between Barcelona, Spain, and Vilnius, Lithuania, where she continues to pursue her passion for journalism. Contact her on [email protected].
More articlesAgne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in Literary Studies from the University of Amsterdam and has an extensive background in writing about a wide range of topics including cybersecurity, travel, art, and culture. She has also volunteered as an editor for the animal rights organization, “Open Cages,” where she helped raise awareness about animal welfare issues. Currently, Agne splits her time between Barcelona, Spain, and Vilnius, Lithuania, where she continues to pursue her passion for journalism. Contact her on [email protected].
