Altr is built on the Polygon network and employs NFTs as digital proofs of ownership for each distinct collectible sold on its platform. The NFTs grant owners the flexibility to retain, exchange, use as collateral, or redeem them for the actual physical items whenever they desire. Altr ensures the secure storage of all collectibles through its Oracles, maintaining them in safe storage facilities until the NFT holder opts for physical redemption. This showcases the platform’s vast potential to revolutionize the accessibility and trading of luxury assets for collectors, dealers, and enthusiasts alike, leveraging the power of blockchain technology.
“We are delighted with the successful launch of Altr with this incredible F40. The speed with which the car sold is a testament to the confidence that the community has in Altr and the technology on which it is built” said Davide Rovelli, one of Altr’s initial supporters. “The sale of the Ferrari F40 demonstrates that there is a growing market for collectors to buy physical assets using blockchain technologies, enabling a secure and transparent solution for acquiring, owning, exchanging and storing high-value assets. This monumental accomplishment is only the beginning of our journey as we work towards a regular program of epic collectible drops.”
Altr serves as an ideal entry point into the world of luxury collectibles, providing collectors with effortless access to the rarest and most exquisite items, available either as complete purchases or fractional shares, with digital ownership securely recorded on the blockchain. Within Altr’s ecosystem, collectors can also digitize their existing collections, leveraging them as collateral to access liquidity without parting with their prized possessions. Upon introducing a collectible to Altr, it can be sold as a whole through a single digital ownership certificate – NFT – or alternatively, it can be divided into fractions, enabling everyone to co-own coveted items like dream Ferraris, vintage Patek watches, or other luxury collectibles offered by Altr’s reputable sellers.
Back in January 2023, Altr also sold a new-old-stock vintage Rolex Daytona to its community for $195K.
