Pure Diamond Farm Eyes Us$200m On ICO To Fuel Growth Of Lab-grown Diamonds Business

Two-thirds of the fund will go to plant and equipment investment, intellectual property rights, and R&D.

When Hideyuki Abe established Pure Diamond Farm, a company that is looking to manufacture labgrown diamonds that exhibit completely the same characteristics as nature-made ones, he ditched the traditional fundraising route and is now eyeing to raise US$200m through a token sale. The deciding factor was speed, and Abe believed that it was important to get a firm footing in what he believes will be a highly promising industry due to the intrinsic advantages that lab-grown diamonds provide compared to expensive, low-supply nature-made diamonds. “This market is new and I wanted to start this project as soon as possible, so I chose ICO in Singapore.” Abe said.

A favourable market

Abe, who has familiarity with launching ICOs through his other company, said the most important aspect with the Pure Diamond Farm project is speed as other players, including big-name jewellery brands start to also look into making lab-grown diamonds. “With the vast knowledge and blockchain expertise of Jun Kawasaki, the white hat hacker who solved Japan’s high-profile NEM coins theft, we’re confident that our blockchain will be highly stable and equipped with strong security features to prevent cryptocurrency hacks and theft,” he said.