Manipulation and fraud in the diamond industry goes on to this day. The Diamond Dawn NFT collection showcases an elegant solution to the problem.
A $100 billion problem
In the diamond industry there are factors in how a diamond is graded that make the most enormous amount of difference. Suppose you have a pink diamond that is worth $130,000 per carat. You’d be in the money, but, if your diamond were red, the change in value ($4.5 million per carat) could be life-changing.
So could the colour be upgraded in order to benefit from the huge change in value? You might think that the colour is the colour, but in the diamond industry today anything appears to be possible.
To begin with, who decides the colour anyway? This isn’t something your average consumer can evaluate. To grade a diamond requires training and specialist equipment.
Several companies offer professional diamond certification services. The certificate lists all a diamond’s natural attributes, and therefore the paper c
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