Investing in Luxury Cars through Blockchain
The investment platform CurioInvest and digital exchange MERJ Exchange (from Seychelles) is going to issue a new token, which will allow individuals to invest in luxury cars.
The new token, called CT1 (Car Token) and will be connected with the luxury cars’ value and every car stock will split every car in several value pieces to be sold in investors.
“Luxury cars like art have been used as safe shelters for investors in crisis periods” Fernando Verboonen, CEO CurioInvest stated. Every investor that will add its portfolio any car shares, will be able to capitalize on its earnings according to cars’ value. When cars’ value gets up 20 % from the initial price, they will be sold back to CurioInvest so the investors can claim back their profits.
The initial plan is to create a fund with 500 luxury cars, worth around $ 200 million. Similar projects have been deployed in the future like Rally Road in the USA, with success.
Unfortunately, the investors won’t be able to drive any of the cars that have invested.…