Etherical has bought into the first tranche of the public token sale of Bitcar, based in Singapore and coming out of Perth, Australia.

Token: BITCAR

White Paper: https://bitcar.io/data/Bitcar%20Whitepaper.pdf

Team: https://bitcar.io/#team

Token Sale: https://mainsale.bitcar.io/

Medium post: https://medium.com/bitcar-mag/tokenising-exotics-disrupting-the-global-hypercar-supercar-and-rare-classic-car-ownership-market-c363b51578e

Bitcar are selling 250 million of 500 million tokens in 4 tranches, after having raised US$5 million in their pre-sale.

The basic idea of BitCar is tokenizing ownership of Exotic Cars. As well as their BITCAR token, specific CAR tokens will be issued to provide fractional ownership of each investment asset.

Other than cryptocurrency, exotic cars have been one of the best performing asset classes. This type of super-rare, highly valuable, coveted asset increases in demand as world population grows, and tends to be recession-proof.

In this sense Bitcar is a hedge, by putting crypto into a non-crypto asset. We think that Bitcar has the potential to do very well as a token. You might not be able to afford a Bugatti Veyron or Mclaren P1, but you can afford some tokens in the ownership of one (no, you don’t get to drive the cars; cars at this level are an investment, one which depreciates with mileage).

Investment in this high-performing asset class was previously open only to the very wealthy. Tokenization makes it available to anyone.

The demographic of who is active in cryptocurrency in the world today is mostly men, and mostly young. Young men are into exotic cars, but usually lack the resources to acquire them outright. Tokenization makes it possible to become a part owner of an exotic car.

Bitcar seem highly aware of their market niche, and have already partnered with  one crypto-supercar dealer Moonlambos who will accept BITCAR as payment. We like the underlying business of Bitcar, but we believe the “cool factor” of hypercar appeal could drive appreciation in token value even more than  revenues and profits in the business.

Read the whole article here: https://etherical.io/tag/bitcar/