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Recently Sold Ferrari F40 Worth $2.5M Is Now A Polygon NFT

Jay Hicks



NFT rises again

Recently, Lucidao (the governance application of Altr) disclosed an exclusive sale of a sports car. The respective car got sold within just forty-eight hours. The respective car is a Ferrari F40 having a worth of up to $2.5M. It is presently an NFT possessed by the top non-fungible token platform Polygon. This development is included in the strategy of Altr (a marketplace of luxury items based on Polygon).

Altr Trades Ferrari F40 for $2.5 Million

With this move, Altr intends to show how the selling and purchasing of luxury goods can be supported with the help of blockchain technology. In addition to this, the company wants to turn into a go-to forum for this type of transfer. Altr carried out its largest sale up till now. The Ferrari F40’s sale for 2.5M USDT is considered to be a big move on the part of the platform.

The company is popular for issuing digital proof of ownership concerning luxury goods which are traded in the form of NFTs. Apart from that, Altr also plays a significant role in carefully keeping the physical item till the preparation of the latest owner for claiming it. The platform pointed out that it stores all collectibles safely. As per the company, the oracles of Altr are responsible for storing and maintaining the respective collectibles.

They do this till the NFT holder moves ahead to extract the physical collectible. The company also asserted that a group of famous professionals was accountable for guaranteeing the adequate storage and appraisal of products traded on the platform. On Wednesday, Lucidao shared a Twitter post regarding the above-mentioned sale.

In its tweet, the platform expressed its enthusiasm regarding the sale of the Ferari F40. It added that this development denotes the initial landmark and the earliest official sale taking place on the platform of Altr. Davide Rovelli, an early supporter of the company, thinks that the rapidness of the car’s sale indicates that the community keeps faith in Altr as well as the underlying technology thereof.

He moved on to say that he has great confidence in the further growth of the market as the collectors can purchase physical assets with the use of blockchain technologies. According to him, they enable a transparent and secure solution for storing, exchanging, owning, and acquiring assets of high value.

The Platform Also Offers Goods with ‘Fractionalized Ownership’

On the other hand, Altr also provides what is known as “fractionalized ownership” of goods. In this respect, the platform enables collectors to partially own a luxury good. The respective owners obtain non-fungible tokens to denote their partial ownership of a luxury good. For example, back in January this year, the company traded a watch called Rolex Daytona 6265/8 to a team of purchasers for $195,000. It charged 3% for the watch’s storage and management.

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