BitCar Co-founders Gov van Ek, and John Bulich will be greeting some of the thousands expected at the Goodwood Festival of Speed event later this week and showing how they can fractionally own a stake in a half million-dollar collector edition Ferrari 599 GTO on display.
Having recently announced its mainnet launch on May 6th starting with the Ferrari 599 GTO on the Ethereum public network, BitCar plans to list only the rarest and finest models from marques such as Lamborghini, Ferrari, and Bugatti.
BitCar Co-founder Gov van Ek said, “We’re very pleased to announce an update to our payments processing system as well as an opportunity for people to win a fractional ownership stake in a half million-dollar collector edition Ferrari 599 GTO. Both these announcements support our goal of empowering anyone to own part of a top collectable at an affordable price point.”
Using a dual token model, BitCar’s CAR tokens are records of the acquired or traded fractional ownership in the form of digital receipts used by the platform. As a real-world, asset-backed stablecoin, BitCar provides holders with stability in a volatile market. BitCar’s utility token (BITCAR) is needed to access the platform and can be used to pay for fractions of cars as well as vote on day-to-day decisions with regards to the cars.
BitCar is excited to announce the following updates:
For media or partnership inquiries, please contact info(at)bitcar.io
BitCar Platform is a live peer-to-peer trading platform that enables fractional ownership of Exotics (rare and exotic hyper, super and classic cars). Once an asset only available to the wealthy, BitCar enables anyone to own a piece of an exotic car through proof-of-ownership tokens that can be traded on BitCar’s decentralized platform. By leveraging blockchain technology and a dual-token system comprised of CAR asset tokens (or “Car Coins”) and the BITCAR utility cryptocurrency tokens, BitCar allows fast, private, low-cost trading 24 hours a day, 7 days a week. Because CAR tokens are backed by real, high-performing assets, the stablecoin offers much-needed predictability in a volatile crypto landscape.
Disclaimer: Exotic car values can go up or down and past performance is no reflection of future prices. The BitCar platform will be closed in certain jurisdictions including the USA, Portugal, Singapore and Australia.
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