Luxury Collectibles as Liquid Assets: Altr Facilitates $200K in Loans within 24 Hours of Debut
Altr is excited to announce the launch of its revolutionary lending platform, a game-changer in asset liquidity that turns luxury collectibles into liquid assets through competitive short or medium-term loans. In an impressive start, Altr has facilitated over $200,000 USDt in loans within the first two days of operation, with prestigious items such as Patek Philippe and Rolex Daytona watches serving as collateral.
Highlighting this achievement, Altr’s landmark transaction involved an iconic Patek Philippe Nautilus reference 5811/1G, securing a notable $82,500.00 loan in USDt stablecoin (Tether) for its borrower. This milestone underscores the platform’s capability to seamlessly convert high-value physical assets into digital currency, enabling secure and transparent lending transactions.
Initially focusing on luxury collectibles like watches and cars, Altr is now broadening its horizon to include a wider range of valuable assets. The platform is actively exploring the addition of new categories such as Art and other valuable collectibles, aiming to help inject liquidity into markets traditionally seen as illiquid.
Collectors looking to quickly convert their valuable items into cash often face significant challenges and drawbacks with traditional methods. Selling to dealers usually results in a lower return than market value due to dealers’ profit margins, while auction sales, though potentially more lucrative, involve a lengthy and expensive process with high fees and permanent loss of the item. These methods, therefore, not only take time and reduce profit but also force collectors to permanently part with items that may hold sentimental or appreciating value.
How does it work?
The Altr Lending Platform allows users to leverage the value of their high-end collectibles, starting with luxury watches and cars, by offering them as collateral for loans. These assets are verified by Altr’s team of expert “Oracles” and stored in insured specialized freeport vaults, ensuring asset safety throughout the loan period.
While the item is stored, borrowers can publish loan requests, creating a transparent lending ecosystem where lenders can confidently participate. This peer-to-peer lending model not only provides flexibility and control to users over their borrowing needs but also offers attractive returns for lenders, establishing a competitive and efficient financing solution within the decentralized finance (DeFi) space through the use of real-world assets (RWAs).
Built on the Polygon protocol, known for its efficiency and scalability in the blockchain realm, Altr’s platform benefits from the support of Polygon Labs and its co-founder, Sandeep Nailwal, who have been instrumental as early investors and advisors.
Redefining The Game
Davide Rovelli, serving as an Advisor and Spokesperson for Altr, pointed out: “Altr is not just changing the game; it’s redefining it. The mission is to infuse the luxury collectibles market with what it has long been missing — liquidity. By leveraging the power of blockchain technology and the stability of USDt Tether, Altr is transforming traditional wealth into digital, opening new horizons for collectors and investors alike.”
As the finance world continues to innovate, the Altr lending feature showcases the potential of combining traditional collectibles with cutting-edge DeFi technologies, paving the way for a new era of asset liquidity and investment opportunities.
For more insights or to explore Altr’s lending platform visit the website link, connect with us on Telegram or email us at team@altr.trade.
