Direct-to-consumer jewelry company Reign Sapphire Corp. (OTCQB: RGNP) this morning issued an update on some key features of Reign Coin, the company’s sapphire-backed cryptocurrency. These include Reign Coin’s unique sapphire-backed model, which is supported by the company’s own Australian sapphire supply chain; its inventive crypto-dividends, stemming from interest and fees related to the network’s collectively-owned assets; and its groundbreaking growth by transaction business model, through which a portion of all transaction fees are reinvested into sapphires in order to increase the base price and improve the overall solidity of the cryptocurrency. “We are diligently working on this exciting project, and have applied for the relevant trademarks and patents,” Joseph Segelman, CEO of Reign, stated in the news release. “We are confident that Reign Coin will add long-term shareholder value and complement our existing businesses.” Per the update, Reign intends to launch an Initial Coin Offering (“ICO”) for the cryptocurrency, subject to regulatory approval. Release of Reign Coin’s white paper is expected later this month.
To view the full press release, visit http://nnw.fm/BEL7k
About Reign Sapphire Corp.
Reign Brands operates through four key divisions: Reign Sapphires, which offers ethically produced, millennial-targeted sapphire jewelry; Coordinates Collection, a provider of custom jewelry inscribed with location coordinates to commemorate life’s special moments; and Le Bloc, which offers classic customized jewelry and the athleisure jewelry brand, ION Collection by Jen Selter. The Company’s portfolio also includes Reign Ventures, a joint-venture platform for investment and development of jewelry technology related products; and Reign Blockchain to authenticate sapphires as conflict-free. Entries on the digital record can include attributes for each sapphire including the color, carat and certificate number. For more information, visit the company’s website at www.ReignSC.com
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