Galaxy Digital Tokenizes About $9 Million Worth of Violins

Galaxy Digital, a company owned by Michael Novogratz, announced that it has tokenized a 300-year-old Stradivarius violin owned by Animoca Brands co-founder Yat Siu, which was made in 1708, valued at about $9 million, and once belonged to Ekaterina the Great of Russia. Galaxy Digital said, “Known for its craftsmanship and long provenance in the past, this tokenized musical instrument alliance makes significant strides in the application of Blockchain technology to the value of unique assets in the fourth quarter.” The statement added that Siu is using the tokenized violin “as collateral to finance Galaxy's Global Markets business.”