A Porsche Speedster Is Turning Into Tokens on a Blockchain

Source : A Porsche Speedster Is Turning Into Tokens on a Blockchain
TEND, an -powered marketplace for sharing “tokenized” luxury goods, has partnered with a Porsche dealer based in Switzerland’s “Crypto Valley” to put a sports car on a blockchain. The startup’s founder, Marco Abele, who previously served as chief digital officer for Credit Suisse, told that TEND is collaborating with Porsche Zentrum Zug  in order to offer a 1956 Porsche Speedster 365A as the app’s first tokenized car. The luxury car will be split up into token-based shares to be registered and traded on TEND’s automated marketplace. The platform hosts share-owners and a variety of service partners, while its use of a blockchain also provides a transparent account of assets’ histories. Abele said that through fragmenting ownership, the TEND app fulfills the “modern generation’s” desire for luxury assets, while simultaneously expanding access to them. “It’s tokenizing luxuries and very precious assets to bring them into co-ownership and onto the blockchain, and then our unique proposition is to give a full life experience on top of this investment and to enable that experience via service partners,” he said, adding: “So what we want to enable people to do is not only to own a beautiful object, but to then really touch and […]
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