Eidoo Card Teal
Eidoo Card Purple
Eidoo Card Black

Introduce your digital currencies to the real world.
Experience DeFi on demand with the Eidoo Card

Pre-order yours and enjoy exclusive rewards,
including up to 10% crypto cashback.

How to buy a Ferrari with a digital token
How to buy a Ferrari with a digital token
Crypto

How to buy a Ferrari with a digital token

By Marco Cavicchioli - 31 Jan 2020

Chevron down

It may soon be possible to buy a Ferrari even with a small amount of money, thanks to a digital token

The CurioInvest investment platform, in partnership with the MERJ digital asset exchange, is about to introduce collector car-backed tokens to the market. 

The aim of the two companies is to tokenize and sell rare and collectable assets, including vintage cars, wines and jewellery, as their market has recently recovered after the great financial crisis of a few years ago. 

For example, classic cars have appreciated on average by 330% over the last decade and this also applies to other precious and collectable assets. 

In particular, the company intends to place 500 collector’s cars on the market, for a total value of over 200 million dollars, stored in a vault in Germany, which includes a 1.1 million Ferrari. 

The aim is to tokenize these assets to make them accessible to a wide range of people, currently cut off from this market due to high prices. 

Tokenizing an asset basically means putting property shares on the market, somewhat similar to what is done with companies that go on the stock exchange to sell their shares, allowing individual shares to be affordable even for those who do not have large amounts of capital at their disposal. 

The tokenization of assets

Similar experiments have already been carried out in other areas, such as real estate, with the tokenization of properties on the Ethereum blockchain

Physical gold has also already been tokenized in several similar initiatives, while in some cases the tokenization has not been used to put shares of physical assets on the market, but rather voting rights

Even the OECD has become aware of the ongoing phenomenon of asset tokenization, to the point where it has published a report highlighting the need to openly address these new developments. 

MERJ’s head of digital strategy, Jim Needham, stated that this is all happening through adequate regulation.

“You’re talking about a very well-regulated, well put-together offering that will be listed on a full securities exchange. It’s a perfect illustration of what this, as a tool, what blockchain technology and distributed ledger technology can do to democratize the capital markets”. 

The founder and CEO of CurioInvest, Fernando Verboonen, also pointed out that collector’s cars, for example, are historically considered safe investments, although currently managed by very few people. 

Through tokenization, everyone will benefit from the financial advantages of similar luxury goods. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.