TEND, a cryptocurrency trading platform that allows you to buy rights to the collective ownership of luxury goods for Ethereum, has agreed with the distributor of Porsche cars in Switzerland to tokenize a Porshe model 365A from 1956 to sell its rental service for cryptocurrency on its platform.
The cost of an elite car will be divided into five parts-tokens, which can be purchased on the TEND automated trading platform.
Marco Abele believes that through collective ownership, the younger generation will have access to the luxury goods they crave. Porsche Zentrum Zug will be responsible for ensuring that customers move from paying for the rental to actually using the car without unnecessary delays. Financial relations between tenants and the company will be regulated by smart contracts based on blockchain technology.
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According to coindesk
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