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Two firms partner to tokenize luxury cars, including Ferrari

Two firms partner to tokenize luxury vehicles, including Ferrari

Investment platform CurioInvest and digital property change MERJ have tied up to provide tokens backed by uncommon and luxury vehicles, including Ferrari.

The tokens, dubbed “CT1,” might be listed on Seychelles-based regulated change MERJ, Bloomberg reported Friday. The change is licensed by the Seychelles’ Financial Services Authority as a securities change.

CurioInvest and MERJ are planning to tokenize 500 collectible vehicles price over $200 million onto the change. Ferrari F12tdf, price about $1.1 million, might be among the many first to be tokenized, per CurioInvest’s web site.

“You can have a guy in Uganda who’s able to invest in a rare car that’s kept in a vault in Stuttgart, tokenized by a company in Liechtenstein and it all fits within this recognized regulatory environment,” Jim Needham, head of digital technique at MERJ, informed Bloomberg.

According to property consultancy agency Knight Frank, classic vehicles returned greater than 330% within the 10 years via 2017, outpacing returns from conventional investments corresponding to shares and bonds. 

“When you look at fine art, collectible cars, they have been perceived historically as safe havens,” stated Fernando Verboonen, founder and CEO of CurioInvest.

CT1 tokens will reportedly be investable with one greenback.

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