German FinTech FINEXITY (website) has added tokenized luxury watches to its offering as a new asset class using blockchain technology. The specialist for tokenized alternative investments, FINEXITY, now enables investors to invest in luxury watches. For this purpose, FINEXITY has partnered with Munichwristbusters and Watchvest.
FINEXITY has set itself the goal of making investment objects investable on a low-threshold basis by tokenizing the respective thing with the help of blockchain technology. This means that the unit (e.g. luxury watch) is broken down into digital components (tokens), each representing an equivalent value of 1 euro at the time of placement. Investors, therefore, do not need to buy an entire Rolex or Patek Philippe to invest in the asset class but can start with any denomination.
In addition, the performance of the asset can be continuously tracked digitally, as pricing takes place on the secondary market where the tokens are traded, just like on the stock exchange.