Madison reports initial sales of first uranium-backed NFT

28th October 2022 By: Tasneem Bulbulia - Senior Contributing Editor Online

Upstream mining and exploration company Madison Metals and fintech company Lux Partners have announced the first capital inflow from the first tranche of the Lux Uranium token.

Madison will receive $5.12-million in proceeds.

Madison has committed an initial 7.65-million pounds of triuranium octoxide from its uranium projects in Namibia to back the first-ever uranium-backed nonfungible tokens (NFTs).

Lux NFTs are minted exclusively on its network.