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NewGenIvf Group Limited (NASDAQ:NIVF) ("NewGen" or the "Company"), a tech-forward, diversified, multi-jurisdictional high-growth entity transforming industries through innovative solutions across real estate development, digital asset management and reproductive health solutions, today announced it has signed an engagement letter with World Chinese Museum Co., Ltd. ("World Chinese Museum" or the "Client") to act as the worldwide agent for the tokenization of the Client's high-value private art collection.
The project involves the tokenization of specific artwork assets owned by World Chinese Museum as agreed upon by the two parties, transforming ownership of these physical assets into digital tokens on a blockchain. This process is designed to unlock liquidity, enable fractional ownership, and democratize access to an asset class that has traditionally been exclusive and illiquid. This initiative is a direct continuation of NewGen's strategic pivot into the digital finance world, following its US$30 million strategic investment into a Solana digital asset treasury and its exploration of a multi-million dollar real estate tokenization project in the UAE.
The initial tranche of artwork to be tokenized is valued at US$2 million. The agreement includes a provision to expand the tokenization of additional artwork assets up to a total value of US$200 million, contingent on the success of the initial rollout. Under the terms of the engagement, NewGen will earn a 15% fee on the total value of the tokenized assets, representing a new and potentially significant revenue stream for the Company. This engagement marks a significant milestone in NewGen's digital asset strategy, building upon its previously announced initiatives in the blockchain sector.
Posted In: NIVF