4K.com, the world’s first marketplace for physically-backed non-fungible tokens (NFTs), just listed over 18 bitcoin worth of Casascius coins on its platform. At the time of launch, the coins have an approximate face value of $1,200,000.
The Casascius coin collection offered on the 4K marketplace includes 13 coins of various denominations (0.1, 0.5, 1, and 5 $BTC), each of which are graded, unpeeled, and loaded with not just each coin’s respective amount of bitcoin, but also each fork of bitcoin since minting, including Bitcoin Cash and Bitcoin Gold.
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“Casascius coins are one of the first physical artifacts of the blockchain revolution,” says Max Einhorn, COO. “Because there are so few unredeemed coins and the temptation to redeem continues to grow, loaded Casascius coins are rare and trade at significant premiums relative to their face value.”
Produced by Mike Caldwell between 2011 and 2013, these coins enable newcomers to the bitcoin community to physically hold bitcoin, which helps overcome mental blocks around the idea of an intangible internet money. Each coin is equipped with a unique private key that is hidden behind a tamper-evident hologram. When peeled, the hologram leaves residue that shows future coin holders that the $BTC has been unloaded.
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“We are excited to offer these valuable collectibles on our marketplace,” says Richard Li, CEO of 4K.com. “I was on the forums when Casascius coins launched on bitcoinTalk in 2011 and know that all the bitcoin OGs remember its impact in the early days. You’ll have a hard time describing yourself as a bitcoin maximalist if you don’t own at least one Casascius coin.”
Prior to 4K offering Casascius coins on their marketplace, prospective buyers would have to search various forums for sellers, ask for references to ensure the seller is legitimate, and either trade in person or send funds ahead of time hoping that the seller will follow through with the trade and that the coin will be authentic. 4K streamlines this process by pre-authenticating each coin and acting as a trusted custodian, which enables buyers and sellers to trade with confidence.
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