Altr has introduced a new feature on its marketplace — digitisation. It allows private collectors to create a digital twin of their prized assets, with an initial focus on watches and cars, generating a transparent record of ownership and provenance of any collectible using blockchain technology.
Unique collectibles, whether in the form of a decades-old heirloom passed down through generations or a luxury asset acquired from an exclusive auction, have long fascinated avid collectors and financial advisors alike. A collectible is often defined as an item worth far more than it was initially sold for because of its rarity and/or popularity. With the market for rare watches and cars growing significantly, it’s unsurprising that collectibles have grown in popularity as an asset class that can help diversify investment portfolios.
Altr’s digitisation function allows private collectors to capture the essence of their beloved treasures in a digital format. As a result, Altr creates a more transparent and globally accessible platform for collectors to share information about their unique assets. The digitisation process is very simple: private owners can submit verifiable information about their collectibles via a request form; once approved, Altr issues an NFT enriched with metadata about the physical item.
Altr has partnered with Supercar Owners Circle (SOC), a highly exclusive community of supercar collectors who share a passion for exceptional automobiles, to offer members the opportunity to create a unique, bespoke light digital certificate for their supercars. Altr joined the SOC in Andalusia, where members of the SOC had the opportunity to digitise their prized automobiles with the particular details of their car and a current market valuation.
Says Altr advisor and supporter Davide Rovelli: “The SOC event was a great opportunity for Altr to meet some of the greatest car collectors in the world and share with them what is happening on the Altr platform. The feedback from this community was invaluable in helping Altr to test and improve its different functionalities over the weekend, as well as managing to digitise some incredible cars and watches for collectors.”
Altr’s digitisation function will further expand, in the future, to offer collectors an opportunity to borrow liquidity using their assets as collateral. Altr’s lending function will operate on a peer-to-peer basis, where liquidity providers will be able to loan cash in the form of USDT to collectibles owners. Liquidity providers will have access to revenue opportunities secured by physical assets, while private owners will unlock their high-value assets while maintaining ownership.
Digitisation marks yet another milestone on Altr’s roadmap. In July 2023, Altr hosted a successful $2.5M Ferrari F40 sale. Before that, in January 2023, Altr sold a new-old-stock vintage Rolex Daytona for $195K in the form of 500 equally valued fractions. By leveraging the power of blockchain and digitization, Altr is not only streamlining the process of buying, selling, and storing high-value items but also opening up new opportunities for collectors and investors alike.