There has been a lot of new and crazy innovations that have been emerging in the blockchain space since its inception. One of the most intriguing yet most sophisticated innovation so far is merging blockchain tokens with physical products.
A small walk down the past
The first and foremost solid combination that the blockchain community experienced was the crypto-kicks from Nike and slowly it went into merging blockchain tokens with gold and so on. These innovative ways to promote blockchain technology is slowly gaining momentum and over a period of time, the idea is slowly gaining momentum.
The next innovation in the same regard is attaching digital tokens with Luxury cars which pretty much sounds solid as nearly most of them dream of owning a luxury car. This will greatly improve the credibility of the crypto tokens and also ensure that the users are able to understand how valuable these tokens can actually get!
Two firms are on the horizon who are spreading the technical aspect of tokenizing luxury cars. The well-known CurioInvest and a digital exchange are the two firms that are working on the technology right now. The companies are in the stage of actually testing the possible ways this could be made possible.
According to the sources in the company, the token would be dubbed CT1 and will be exclusively available for the users who are into collecting cars as a passion. The main business propaganda behind the company’s joint-venture is that they believe that the collectibles market is an evergreen one and the probability of people losing interest in collecting rare cars is one in a million.
According to the plans of the two companies, they are planning to tokenize nearly over 500 collectible cars on the horizon that are worth more than $200 million in the exchange. This will be a great way to regularize the blockchain space and monetize the usage of crypto technology in the modern world.
The collection of cars will also include many rare cars like the Ferrari F12TDF, which has a price tag of $1.1 million will be the first car that will go on the table. They are currently planning to understand the collectors market and soon after a detailed analysis, they will start the tokenizing process as effective as possible.
The bigger interesting unconfirmed fact is that the investment stakes of CT1 will start around $1.