The blockchain based platform for tokenized rare cars collectibles investments CurioInvest announced on June 24 that it has partnered with Chainlink to bring transparency and trust to the valuation of their tokenized car collection. The partnership will also help CurioInvest to bring greater decentralization to the platform and in the future, create a distributed collateral pool of tokenized collector vehicles to help with Decentralized Finance (DeFi) stablecoins collaterization and even insurance premiums.
Tokenization platform @curio_invest will use Chainlink oracles to bring real-time pricing to the collectible car market. This gives users a reliable benchmark for trading tokenized non-bankable assets such as ownership stakes in ultra-rare cars. https://t.co/KPWWn8dySY— Chainlink – Official Channel (@chainlink) June 24, 2020
This partnership will solve the long standing problem of assigning a fair value to the classic and collector vehicles, for which the only way before was the manual determination of value by comparing auctions and listings. That results in a significant barrier of entry, interested people have to pay high fees to hire third party evaluators to identify originality and determine price.
Fernando Verboonen, Cofounder at CurioInvest says: Chainlink brings crucial infrastructure for building the CurioInvest ecosystem, ultimately making rare collectible assets as liquid as possible. It genuinely provides the missing piece in the puzzle that I’ve been seeking, allowing CurioInvest to easily create a system of valuation analytics for all CurioInvest’s rare cars or other collectibles.
CurioInvest partnership with Chainlink will create a reliable and high quality price feed for rare collectible cars. The company will use the Chainlink decentralized data oracles to aggregate multiple data feeds for evaluation, bringing standardized transparency to the vehicles available on the network. Now, people will be able to trade against a reliable benchmark from a pool of trusted independent sources and invest confidently, which will increase market liquidity and decrease slippage. This is the world’s first and the ‘Founders Series’ collectible, a 2015 Ferrari F12tdf CT1, has been chosen for the first integration.
Commenting on the collaboration, Daniel Kochis, Head of Chainlink Business Development stated “We’re excited to provide secure and reliable data oracles to CurioInvest to help them pioneer a new market dynamic around bringing real-time benchmark prices to the collectibles industry. This can not only expand the amount of liquidity available for rare assets, but provision trading markets based on reliable data feeds.”
Curioinvest offers secure, fully automated and a customizable wealth-tech solution based on DLT. It is a rare collectible cars investment company, which tokenizes its investments on the blockchain. Investors can simply purchase “tokens” which represent stakes in a certain vehicle. The shares can be traded in open markets, providing liquidity and reducing barriers of entry into this otherwise “secluded” market. The company further provides facilities for creation and management of institutional grade digital assets, allowing asset managers and private investors to diversify in top vetted tokenized collectible vehicles.
Chainlink is a decentralized data oracles service, which connects smart contracts to off-chain real world events information. The oracles are secure, resistant to manipulation and thus reliable. The main product Chainlink price reference contracts consists of 30 DeFi price feeds, on the Ethereum network, each consisting of 7 to 21 secure, independent Sybil resistant nodes, sourcing data from a high quality aggregator.