BASE.INFO team has interviewed Jorge Peláez the CEO of GEMERA project. We have asked the most topical questions to get acquainted with the project and to learn the future plans of the GEMERA team.
Please welcome, Jorge Peláez.
Please describe your company/project in 2 sentences.
GEMERA is a crypto-token backed by Colombian emeralds which provides a blockchain based platform where the tokens can be redeemed for physical emeralds. The project enables anyone to invest in Colombian emeralds by connecting producers and investors, without an intermediary, in a more democratic, accessible, fast and transparent manner.
Why did you decide that blockchain should be the basis of your project?
Thanks to its blockchain based platform, GEMERA connects emerald producers and investors, by eliminating the middleman, and therefore creating benefits for these two actors. Besides, the value of Colombian emeralds can be triggered due to the benefits of decentralized technologies, such as liquidity, efficiency, speed, less friction and transparency.
Why did you launch the ICO? Was it the only option to collect the funds?
The project already has 1 million dollar in emeralds from Colombian emerald producers. The platform is already created with essential characteristics. The idea with the ICO is to boost the process, offer more tokens and develop more features on the platform using an established ICO ecosystem.
In this case th ICO ecosystem is a good idea, because the investors know and understand that are investing in something that will become real in the future, following the road map. However, the project is looking for other sources of funding.
Briefly describe your team. Why these people became the engine of your project?
Our founder team members have wide knowledge on technology, blockchain and the crypto environment. They were paramount to envision the project and develop the idea, as well as the business model.
Besides, as our token is backed by Colombian emeralds, some of our team members are also experts on emeralds appraisal, who have helped us to develop the Emerald Assessment Process, which is a model created by us for setting the price in GEMERAs of the emeralds that back the tokens.
What are the main centerpiece and the highlight of your project? What will attract the investors' attention?
Colombian emeralds are one of the most desired gemstones, due to their unique characteristics, beauty and scarcity.
The price of rough emeralds has increased 135% since 2013. In the case of Colombian emeralds, they have fetched the range of USD 5.000 to USD 15.000 per carat, depending of course on their characteristics. Nowadays, more than 70% of the world’s market supplies of emeralds come from this country, and they are the most expensive per carat. Another fact is that emeralds are 20 times scarcer than diamonds.
This growing tendency of emeralds in the gemstone industry is of course led by Colombia, and traders, producers, and experts coincide that it will continue to be in the forefront, in the following years, adding the fact that emeralds are projected to increase its use for investment in the upcoming years, even equaling the percentage of its current use for jewelry. Those are some of the reasons why investing in Colombian emeralds is very attractive.
What are your thoughts about ICO marketing? Can it be really effective due to all the restrictions and other phenomenas?
ICO marketing has been facing several obstacles in the latest months. Making a decision of applying this type of marketing strategy is becoming more and more difficult for several reasons, that can be summed up in the following three things: trust, restrictions and the excess of offers, some of whom are scams or don’t have a real experience on the matter. Despite all this, it is always possible to find the way to make one’s project visible, with care and constancy.
Why is your project better than your competitors?
GEMERA is a niche player, whose main advantage is its close connection with emerald producers.
The first reason is that our tokens are 100% backed by a real asset, that besides can be obtained by the investor through our redemption period. But besides that, it is the fact that the supply of Colombian emeralds is very limited, which make them more desirable and therefore their value tend to grow. Through our blockchain platform we are also creating a direct connection between investors and Colombian emerald producers.
One last thing is that our project concerns about social and environmental issues, such as the protection of Colombian natural resources and the improvement of the quality of life of the communities nearby the communities where the emeralds are extracted. Those are some of the reasons why part of the funds the project collects will be used to sponsor social and environmental activities in those regions.
What are the major ways of monetization for your project?
The main way of monetization of the project will be through the token generation events (TGE).
Which markets are the most attractive for you right now? Do you take in consideration the USA and other countries with the legal restrictions for the crypto crowdfundings?
Europe and Asia are the most attractive market for us. The country with restrictions are not allowed to participate in our token sales.
Describe your project in 3 years? Will it change something in the world?
Thanks to our blockchain based platform, no intermediaries will be needed between the investor and the producer, which will translate into benefits for these to actors.
In that way, the producer will expand to new markets and the final customers will invest in emeralds in a much easier way, besides the enormous advantage of counting on an online platform, based on blockchain, to do so, an alternative that was not available in the emerald industry or in the crypto community until now.
In few words, GEMERA is transforming the emerald industry for the better.