Metaplex And Crucible Explore Solana Gold Tokens Tied To Mine Output

Metaplex Foundation announced Nov. 10 that it had signed a memorandum of understanding with Crucible Limited to explore a Solana-based gold token structure tied to output from an unnamed mine. Under the proposal, a fund managed by Crucible would pay a mine upfront for future gold production. Eligible holders of tokens using Metaplex’s MPL-3643 standard would receive distributions in tokenized gold as production occurs. Kappes, Cassiday & Associates (KCA) is Crucible’s mining partner. KCA has provided metallurgical services since 1972 and built more than 70 process plants in more than 30 countries. The mine’s name and location, fund size, expected output, token terms, eligibility criteria, distribution schedule and launch date were not disclosed.

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