A crypto exchange platform MERJ Exchange limited based in Seychelles, has partnered with an investment service CurioInvest, to offer tokenized luxury cars. The offering will help people get into the enticing world of luxury automobiles, via security tokens on a blockchain.
The announcement supports fractional ownership of up to 500 luxury vehicles. These cars are valued at a combined worth of $200 million. The announcement says that the cars will be stored and maintained in a vault located in Stuttgart, Germany.
One of the first cars in the collection is a $1.1 million Ferrari F12tdf. The release further states 60% of all cars costing above $5 million sold in the U.S. are Ferraris. This seems to support the company’s decision to include Ferraris in the collection.
Speaking on the new offering, CurioInvest Founder and CEO Fernando Verboonen praises the product, allowing people to get into luxury auto investment. Verboonen says:
“Most investors have had to sit and watch as elite asset classes outperformed equities and bonds. CurioInvest and MERJ offer these investors a unique way to access these assets, tokenized on a distributed ledger, and available on traditional securities markets infrastructure. This is the best of all worlds.”
The announcement further encourages people to get on the product citing interesting gains. It says that over a ten-year period, vintage cars have pulled in returns up to 288%.
Delta Time, a Formula 1 (F1) blockchain game, announced in November an auction of F1 non-fungible tokens (NFTs).I
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
