What Is Diamond Boyz Coin (DBZ)?
Trading under DBZ, Diamond Boyz Coin is a decentralized and transparent cryptocurrency used in real-life cases. The token is made mainly for the jewelry and music industries. The token offers creative solutions to the supply chain of corporate businesses and small businesses around the world. As explained in the whitepaper, the token is used to facilitate the distribution, verification, and transactions of the assets within the jewelry and music industries.
The main problem faced by both the music and jewelry industries as claimed by DBZ is counterfeiting. Making counterfeit tickets for a show or making fake jewelry is a significant setback for both businesses and consumers. Such counterfeiting costs billions of dollars each year. Thus, the Diamond Boyz Coin team has developed a solution to the above problem by introducing non-fungible tokens (NFTs). The project claims to use NFTs to verify the authenticity of items related to the jewelry and music industry. It also claims to protect businesses’ and consumers’ interests and save millions of dollars every year.
Talking about the platform, the diamond swap is a user-friendly platform that facilitates verifying media events via NFT tickets. This media-based platform collects data and information from users. Such data is used to update the pre-existing rare-earth mineral industry. Further, the whitepaper claims that the diamond swap NFT marketplace is designed to compete with other blockchain-based marketplaces.
Additionally, the diamond swap NFT marketplace is made for all artists, musicians, and content creators. These people can trade and create NFTs. Also, users can access concert tickets through NFT trading. Another feature of the platform is built-in ticketing. The marketplace provides tickets for concerts, events, parties, and much more. Also, the platform gives content creators a way to connect to the community by creating collectible NFTs of concerts.
Further, the platform is made via a developed protocol on the Binance Smart Chain network. Binance Smart Chain is a decentralized digital asset exchange based on a high-performance engine. Further, the project also makes a decentralized application (DApp) over the diamond swap platform. The app claims to authenticate and exchange diamonds and jewelry digitally. Thus, the whitepaper claims that the platform outperforms other outdated competitors in the field.
The platform’s native token is DBZ, and the ticker name is also denoted by DBZ. It is a BEP20-based coin that helps transfer or initiate smart contracts in seconds. BEP20 is a token standard that works and runs on Binance Smart Chain. Users swap DBZ coins against NFTs available on the platform. Thus, the DBZ coin is a utility token of the platform used as a payment method and to power the marketplace. Moreover, the token works on the proof-of-stake consensus mechanism.
History of Diamond Boyz Coin (DBZ)
The whitepaper of the Diamond Boyz Coin is named The Diamond Paper, and its revised edition was published on October 31, 2021. Johnny Dang and Paul Wall are the project’s creators. Dang is a celebrity jeweler and an international superstar. He has been in the jewelry business for almost thirty years and makes jewelry for many artists, influencers, and musicians worldwide. Further, the platform was launched in November 2021.
How to Create a New Diamond Boyz Coin (DBZ) Token
According to the whitepaper, the maximum total supply of the DBZ token is 1,000,000,000 DBZs. Out of these 1 billion DBZ, 500 million will be unlocked and will show the true potential of DBZ coin, which is based on four Cs: charity, count, character, and corners.
Users of the platform get NFTs from the platform. All the holders of such NFTs are rewarded with airdrops, staking, holding rewards, etc. Holders of the NFTs are allowed to stake their tokens on the platform, and they are eligible for 3% of the royalty. Also, 20% of all the platform’s fees are distributed to the holders who stake NFTs. Moreover, liquidity providers get a 5% reward from the supply.
