An embedded NFT (eNFT) is an extension of the ERC-721 NFT protocol allowing for the NFT to be embedded with a digital crypto token. This allows the mint’s NFTs to exhibit the same properties as traditional bullion coins.
Each NFT is embedded with precious metal backed crypto tokens that confer digital ownership to the equivalent physical gold or silver stored in secure vaults at the Perth Mint. This physical precious metal is fully redeemable by burning the NFT and the payment of a small delivery fee.
The NFT now bestows the holder with an enforceable legal claim to take custody of the physical gold with a built-in authentication system and insurance framework, allowing true digital ownership with confidence and trust.
eNFTs are made possible by The Crypto Mint's smart contracts allowing bullion coins to migrate onto the blockchain and become true digital assets.
