AXTG Subsidiary, T8 EXCHANGE, Drives Bold NFT Market Disruption by Partnering with Non-Profit Organization, ABC Legacy Foundation

AXIS TECHNOLOGIES GROUP, INC., a holding company that promotes decentralized finance businesses and supports the development of blockchain and decentralized finance (DeFi) projects, is proud to announce the partnership with ABC Legacy Foundation (ABCLF), a non-profit organization rethinking the way the world creates a sustainable future.  Launching an NFT marketplace to invest in natural resources and physical assets like never before. ABCLF was gifted 670,000 tons (one billion $USD) of graphite by Silver Bear Inc., an Alberta, Canada based corporation, to merge the mineral commodity with the digital world as a non-fungible token.

ABCLF is now offering 200,000 tons of ABC Non-Fungible Tokens (“Graphite NFTs”), a utility NFT token that tokenizes the services of graphite mining, on the T8 Exchange Marketplace. Each Graphite NFT represents the amount of mining labor work on 100 tons of Graphite, with each sale supporting the graphite mining and ABC Non-Fungible Token network. When a token holder redeems it, he can either receive the refined graphite mineral Ex Works or equivalent value in ETHs delivered by ABCLF. The total ABC NFT issued for this project is only 1,500.

The graphite mineral market is expected to see unprecedented growth in the coming decade, peaking at a market size of USD 13.60 billion in 2020. A forecast produced by Syrah Resources projects a compound annual growth rate of 8.2%, from 14.83 billion USD in 2021 to 25.70 billion USD in 2028. This expansion is likened to the battery boom and soaring demand for green and clean energy technologies, driving demand for critical battery raw materials like Lithium, Nickel and Cobalt as well as Graphite.

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Now, the introduction of NFTs has impacted and influenced a transition to a digital world – making it possible for the issuers to imbue physical properties and proof ownership to digital assets.

Graphite NFT will be minted on ETHFUND, a decentralized NFT minting, swap, listing and exchange platform that enables existing TiENCHAT users to trade, swap and utilize NFT tokens as a form of payment inside the proprietary platform.

Each Graphite NFT combines a smart contract with unique identifying metadata, including the identity of the owner, terms of the contract, secured file links and the security afforded by ETHFUND or ETH blockchain, providing irrefutable proof of ownership.

NFTs and Smart Contracts act simultaneously as a “certificate of authenticity” for the underlying asset, and as a valuable representation of ownership of work amounting to 200,000 tons of graphite mineral.

The minimum fundraising amount of the graphite mining project is 7.5 million USD. T8 Exchange charges a 2.5% marketplace fee as the NFT mining, gas, and administrative fee.

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Once the 7.5-million-dollar amount has been met, the token holders will be able to redeem their Graphite NFTs with the correlation amount of graphite mineral product, or the equivalent number of ETHs, after holding their Graphite NFTs for at least a 36-month period. When a Graphite NFT is redeemed, the NFT will be “burned” by being permanently locked into a smart contract, unable to be re-released or spent.

Currently, Funds raised from the issuance of Graphite NFTs will be primarily used to increase efficiency, responsibility, and overall graphite production output, add to, and improve the token holder services. Raised funds will enable ABCLF to employ more contractors and allow more graphite minerals to be ethically mined for the investors.

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