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A Ferrari? You Can Buy One For Tokens!

3 min reading

An investment platform, CurioInvest, together with the MERJ Exchange Ltd. is to provide a complete novelty to the market. The companies established a cooperation in order to issue tokens secured with collectible cars.

An innovative idea

If you've ever dreamed about being an owner of a Ferrari, but could never afford one, blockchain may come in handy! As CurioInvest and MERJ Exchange Ltd. claim, a solution like that should make luxury assets more accessible.

Jim Needham, the head of digital strategy at MERJ, underlined that it is a great example of what blockchain technology is able to do in order to democratize capital market.

What role will tokens play?

Both companies believe that the value of rare, collectible assets such as antique cars, wine and jewelry will not cease to be appreciated. According to the report issued by Knight Frank, from 2007 to 2017 such kind of cars generated profits as high as 330%.

The press release informs that tokens are a tool which allows the investors to buy part of a given asset. Both CurioInvest and MERJ Exchange Ltd. have plans to tokenize up to 500 collectible cars, the value of which is equal to more than $200 million. The first car will be a Ferrari, worth $1.1 million.

"When you look at fine art, collectible cars, they have been perceived historically as safe havens."

- highlights Fernando Verboone, thefounder and chief executive officer of CurioInvest.

If any investor decides to buy tokens like that, they will benefit from having assets because of the fact that they will be, for instance, able to participate in any potential profit once the vehicle has been resold. The details, however, have not been disclosed so far.

Even though the tokens will be supported by the value of classic cars such as a Ferrari, CurioInvest does not consider them as stablecoins. Due to the fact that the investor would receive them with the securities' identification number, the company thinks that the term security tokens is more appropriate here.

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