$5 Million Raised By Luxury Car Blockchain Platform

The Blockhain company BitCar.io announced it has sold $4.96m of its BITCAR tokens in its pre-ICO.

The car enthusiasts will be able to own “fractional” ownership of luxury vehicles including Lamborghinis, Ferraris and Bugatti’s using these tokens. There are also supported by a decentralized blockchain platform.

The total amount of purchased tokens in the pre-ICO was 75 million, with the maximum amount of 175  million tokens, which began yesterday.

BitCar’s co-founder said about this:

“BitCar’s platform is designed to allow users to peg their crypto to scarce hard assets, like rare and exotics cars, some of which have outperformed gold, stocks and property over the last decade.”

 

At recent time, BitCar announced partnering with a number of crypto car traders, such as UK based Dadiani Syndicate, as well as crypto car trader Moonlambos, which plans to accept BITCAR tokens as payment.

BitCar car specialist Daniel Woodroof gave an interview to Arabian Business, explaining that BitCar sees the UAE and the rest of the GCC as a “natural fit” for the concept of fractional luxury car ownership.

“We think it’s perfect. It targets both of the verticals we’re in, cars and crypto. There is a huge amount of interest in crypto and blockchain technology in this part of the world and of course, this is the region with the highest amount of luxury cars per capital in the world.”