World Coins

Coiniverse app adds Mint, sells exclusive Finnish coin

The Mint of Finland sold out its mintage of a 2024 silver €10 celebrating designer Ilmari Taiovaara offered exclusively through the Coiniverse app.

Images courtesy of Coiniverse.

Coiniverse, a digital platform connecting coin collectors and Mints, has added to its platform recently, with member Mints offering coins exclusively through the platform.

On April 2, representatives of the app announced that a new €10 coin from Finland offered exclusively through the app sold out its mintage within the first 72 hours of availability. The coin marks the 100th birth anniversary of designer Ilmari Tapiovaara.

“As part of a proof-of-concept test, commemorative coins were sold directly from our platform for the first time, collapsing the buyer’s journey from discovery to checkout to a single platform,” according to a press release from Coiniverse.

Previously, users had to go through Coiniverse to a Mint’s web shop to finish the purchase, which increased friction in the process and potentially hurt sales.

Any collector that purchased the coin also received a non-fungible token. This NFT serves as a permanent digital proof of ownership. If the coin is sold, the NFT can be transferred through the Ethereum blockchain to the new owner, ensuring the authenticity and origin of the coin.

Coiniverse Ltd CEO Mikko Sievänen said: “This effort is part of our commitment to elevate the industry’s e-commerce to a new level, a journey we embarked on at the beginning of 2024. Adding NFTs to sold coins will enhance the security and robustness of the secondary market in the future and potentially open new revenue streams to mints as well.”

This follows the March 6 announcement from the company that the Perth Mint had joined its platform as the 10th member Mint, and the first from the Asia-Pacific region.

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