In a landmark move, Michael Novogratz, founder of Galaxy Digital, tokenized a famed Stradivarius violin crafted in 1708. This piece, once owned by Russia’s Catherine the Great, holds an estimated value of $9 million and belongs to Yat Siu, co-founder of Animoca Brands.
Interestingly, Siu is leveraging the tokenized violin as collateral for a loan through Galaxy Digital’s Global Markets branch. To ensure security, Galaxy Digital will hold both a digital representation of the violin as an NFT and the physical instrument itself in a secure Hong Kong vault.
