[Edaily Marketin KIM YEON-SEO Reporter] A system is being developed that uses artificial intelligence (AI) to assess the value and risk of tokens linked to physical gold. The system analyzes not only gold prices but also quality, storage, and certification information, as well as issuance and circulation data on the blockchain, to assign a score indicating whether the token’s value is sufficiently backed by the physical asset.

Bayard, a blockchain and AI-based asset valuation company, announced on the 5th that it had been selected for a collaborative project with its affiliate, Credder, as part of the ITCEN CO., LTD.(124500) Group’s open innovation program. The two companies plan to jointly develop a commodity valuation AI scoring engine, starting with a valuation engine for the gold-linked token “KGLD (K-Gold).”

This program is the “2026 ITCEN Open Innovation,” jointly conducted by the ITCEN Group and the global accelerator Draper Startup House Korea Center. Major group affiliates, including ITCENGLOBAL, ITCENENTEC, ITCENCTS, ITCENCloit, ITCENPNS, and Credder, participated.

The program aims to identify technology companies capable of creating synergies with the group’s businesses in the fields of AI, Web3, cloud, and security. Selected companies will receive support including investment reviews by ITCENGLOBAL, opportunities for global club deals leveraging the Draper network, customized acceleration programs, and phased proof-of-concept (PoC) projects with group affiliates.

◇ Analyzing Everything from Gold Prices to On-Chain Distribution

Bayard is responsible for the “Commodity Valuation AI Scoring Engine.” The two companies will first establish a valuation system for K-Gold, a physical gold-backed token issued by the Korea Gold Exchange Digital Asset.

The valuation engine will conduct an integrated analysis of both structured and unstructured data, including not only the market price, quality, and storage and certification information of physical gold but also the token issuance volume and circulation status on the blockchain. Based on this, the system calculates the token’s intrinsic value and risk factors as quantified scores.

Credder, the division of IT Sen Group responsible for Web3 operations, has been pursuing a Real-World Asset (RWA) business that enables the trading of physical gold on the blockchain, building on the digital asset business of the Korea Gold Exchange Group. Through this collaboration, the companies expect to establish a valuation system that can demonstrate to investors how the value of K-Gold is derived from specific physical assets and data.

After developing the K-Gold valuation engine, the two companies plan to expand its scope to include not only precious metals such as silver and platinum but also energy and agricultural products. Since the factors determining prices and data structures differ by asset class, the engine will be designed by combining a common valuation framework with models that reflect the specific characteristics of each individual asset.

◇Expanding from Startups, Ships, and IP to Commodities

Bayard is developing an “Alternative Valuation” system for companies and assets using blockchain and AI. The core of this system is to provide a basis for valuation by combining non-financial information and on-chain data for assets whose value is difficult to determine using traditional financial statements alone.

Key services include startup valuations for venture capital (VC) firms, tokenization and listing valuations for token trading platforms and funds, and asset value and future dividend assessments for investors. The company is currently validating valuation models for global fund partners, early- and growth-stage startups, as well as ships, farms, and intellectual property (IP).

As the RWA market grows, there is an increasing need for valuation infrastructure to determine which assets to tokenize, at what value, and based on what criteria. Building on this collaboration, Bayard plans to expand its valuation scope by adding commodities, including gold, to its existing portfolio of assets under pilot testing.

Park Hye-jin, CEO of Bayard, stated, “Gold is the asset humanity has trusted the longest, but the work of explaining that trust through data has only just begun.” She added, “By combining Credder’s physical gold infrastructure with Bayard’s alternative valuation technology, we will establish standards that allow token holders to directly verify the asset’s value.”

A Credder representative noted, “Since K-Gold is an asset linked one-to-one with physical gold, backing its value with objective data is directly linked to user trust,” adding, “We will transparently present the basis for K-Gold’s value through our AI scoring engine and expand the service to various commodities.”

The two companies plan to verify the performance and reliability of the valuation engine through a proof of concept (PoC) before applying it to the K-Gold service. They will then gradually expand the business to cover the entire commodities sector by adding asset-specific valuation models.