Provenance Proof Launches Online Marketplace for Traceable Gems
Debuting today, it is open to Provenance Proof blockchain users.
Started in 2017, Provenance Proof includes the emerald paternity test, to help stones be traced to their mine of origin, and a blockchain.
The addition of the marketplace, created in partnership with Everledger, will connect buyers and sellers of gemstones, giving interested buyers access to traced gemstones from around the world and dealers the chance to expand their reach by listing their gems on the platform.
The Provenance Proof Marketplace launched today; gemstones and pearls can be viewed, uploaded, and purchased now.
The business-to-business marketplace will be open to all industry members who are Provenance Proof blockchain users.
Buyers can search for the stones they’re looking for via filters or contact a seller directly on the platform.
They can also see the journey of the gem on the blockchain before purchasing, allowing them to decide if the stone and stakeholders involved match their purchasing philosophies and guidelines.
Whether or not prices for products will be listed publicly will be up to the seller.
Gübelin also noted the price won’t be stored on the digital record that is visible to consumers, so they won’t be able to see the wholesale prices.
The marketplace launched as an add-on feature to the blockchain, with a free trial period for eight weeks.
In early 2023, Provenance Proof will start using a subscription model to help sustain the growth of the blockchain, its creators said.
All features “essential to enabling more transparency” will remain free for users, they said, and other new features that provide additional value for businesses will be available through the premium package, priced at $49 per month.
Any stakeholder can list at least 20 gems for free on the marketplace every month, a feature permanently integrated into the basic subscription.
Gübelin said around 4 million gems and jewels have been uploaded to the blockchain to date and more than 500 users have joined, including more than 120 jewelers and manufacturers.
“We believe that provable transparency enables trust, sustainability and fairness in our industry,” said Klemens Link, director of Provenance Proof.
“To make it easier for stakeholders to offer or search for matching traceable gems, we launched the Provenance Proof Marketplace, the first online marketplace for fully traceable gemstones powered by blockchain technology.”
The Latest
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.