- Reign Coin holders share in growth of network’s collectively-owned assets
- Crypto-dividends can be passively collected, air dropped into each coin holder’s wallet
- Blockchain-based Reign Coin’s loyalty rewards program backed by Australian sapphires
Reign Sapphire Corp. (OTCQB: RGNP), a unique direct-to-consumer, custom and branded jewelry company headquartered in Los Angeles, California, aims to launch an Initial Coin Offering (“ICO”) for Reign Coin, its sapphire-backed cryptocurrency, as soon as regulatory approval is received. Reign’s unique crypto model is supported by the company’s own Australian-sourced supply chain and features inventive crypto-dividends stemming from interest and growth transaction fees related to the network’s collectively-owned assets.
Reign CEO Joseph Segelman notes that the company’s groundbreaking Reign Coin offering will be backed by conflict-free Australian sapphires, which form an attractive and solid basis for the new cryptocurrency’s initial price and subsequent valuations.
“We are diligently working on this exciting project, and have applied for the relevant trademarks and patents,” Segelman said in a news release (http://ibn.fm/QkuAV). “We are confident that Reign Coin will add long-term shareholder value and complement our existing businesses.”
Reign Coins are designed to earn interest and fees through transactions, which are then shared collectively by all coin holders in the network through crypto-dividends. Dividends can be air dropped to each holder’s Reign Coin wallet. A portion of the cumulative transaction fees can be reinvested into sapphires – the asset backing each Reign Coin – which are expected to increase the currency’s base price and improve the solidity of each coin. Reign expects to release Reign Coin’s white paper later this month and will update shareholders upon its availability.
Reign’s focus on providing conflict-free, ethically-sourced sapphires to its customers in a mine-to-finger approach is especially appealing to consumers wishing to know where their gemstones come from, Segelman said in a May 2017 article (http://ibn.fm/7MAZ4).
“We can guarantee the plot of land practically within a couple feet of where the sapphires were mined from. We can also guarantee that it’s been mined in an ethical way, that the topsoil is environmental and gets replanted [post mining] and made good,” Segelman said. “We can provide that guarantee and the assurance that what you see is what you get, and that what’s on your finger we’ve been part of the whole process.”
The Gemological Institute of America (http://ibn.fm/fdTDI) reports that millennials – a key consumer target for Reign – are the newest generation of gem and jewelry enthusiasts. They are “particularly inclined to take factors such as fair-trade status, sustainability, and human rights into account before making a purchase,” the report states.
Millennials are also keeping a close eye on the cryptocurrency frenzy, with 30 percent of those in the 18 to 34 age range stating that they would rather invest in a cryptocurrency such as bitcoin than government-backed stocks or bonds (http://ibn.fm/EI1Ve). A recent poll from Swell Investing, a California-based investment company that focuses on social justice-oriented portfolios, reached the same conclusion (http://ibn.fm/67ltz).
Reign’s lean operating model includes sharing central marketing and operational infrastructure throughout its three distinct, niche direct-to-consumer jewelry brands. The company is a member of the American Gem Trading Association, which is committed to fair trade and processing of gemstones. 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 Block, which offers classic customized jewelry and the athleisure jewelry brand ION Collection by Jen Selter.
Reign’s portfolio also includes Reign Ventures, a joint-venture platform for investment and development of technology-related products, and Reign Blockchain, which authenticates sapphires as conflict-free.
For more information, visit the company’s website at www.ReignSC.com
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