UPDATE: Banksycoin (BSY) is set to become the world’s first and only cryptocurrency to be backed by physical artwork.
We are currently working on building a large portfolio of artworks from up and coming artists which BSY investors will be able to swap for their BSY if they so wish.
Investors will be able to trade their BSY for artwork at a fixed USD value to add stability to the market. The value will be 0.03 USD. So for example- If you want a piece of artwork that is worth 3000 USD you will need to trade in 100,000 BSY. This fixed rate will remain stable regardless of BSY actual dollar value. This also means that early investors are set to make a substantial profit on their investments.
Investors must hold a minimum of 2000 USD worth of BSY to be eligible to trade for art.
This is essentially a double barrel investment as BSY investors will be investing into an up and coming cryptocurrency and also into new and upcoming artists.
Updates on this project will be announced in the coming week
So this also means that up and coming artists are set to make a substantial loss on their work