Rare and exotic hyper, mega and super cars (Exotics) are an international commodity. However, ownership of them has been limited to the wealthy, until now.
In a world first, Bitcar.io (Bitcar) allows users to hold or trade digital ethereum blockchain tokens called BiTcar, giving access to a platform where exotics can be owned and traded in small fractions. a second level car token will be used as the digital asset token for the individual exotic cars.
Both cryptographic asset owners seeking access to such hard assets, as well as more traditional exotic and classic car enthusiasts, can now trade in Exotic cars which have been one of the world’s best performing asset classes over the last 10 years, outperforming property and gold over this time 1.
In a disruptive and innovative world rst, BitCar opens direct ownership of this asset class to the public for the rst time. Veri ed Agents will source, acquire and store Exotics, as well as display them. After a 5 to 15 year term, they will be sold with the returns passing back to the asset token owners. During the term, Platform users can peer to peer trade their interests without an intermediary in a trustless manner.
BITCAR tokens provide the utility to the decentralized BitCar Platform (Platform) and allows access to the second order token for acquiring and peer to peer trading the tokenized Exotics as well as being used in an incentive scheme, that is set up to reward parties marketing the Ecosystem.
Control over fractionalized or tokenized Exotics will remain with the token owners, who will be able to democratically vote on matters relating to their ownerships, such as liquidation dates, displays of their car etc. This is relatively simple from a technical perspective given that blockchain technology is at the heart of the fully decentralized Platform.