Transforming car owner details in digital collectibles(NFT)

✨General
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I’m big shegz,
Discord: bigshegz
Tg: iamshegzXBT
X: shegzXBT
And i am Introducing a groundbreaking proposal that fuses the world of tangible assets, like cars, with the digital realm through the magic of NFTs. Imagine a scenario where renowned car manufacturers such as Ferrari craft not only exquisite automobiles but also unique NFTs, each representing a distinct car with traits as exclusive as the vehicles themselves.

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Picture this: Ferrari unveils a limited collection of 100 NFTs, mirroring the exact number of cars produced in a given year. The NFT IDs ingeniously align with the real-world car model numbers, transforming these digital collectibles into verifiable certificates of ownership.

Now, let’s delve into the primary market, a space where NFT enthusiasts and those new to the realm converge to acquire a piece of automotive luxury. When Ferrari sets the mint price, let’s say at a cool $5 million, it’s not just about acquiring an NFT; it’s essentially a digital deed to an actual Ferrari. The NFT becomes the custodian of ownership, creating a seamless link between the digital and physical realms.

Transitioning to the secondary market opens up a world of possibilities. Ferrari owners, armed with their NFTs, can resell their prized possessions globally. Imagine listing your Ferrari NFT on the market, setting your desired price, and facilitating the sale of a tangible asset with the click of a button. But here’s the twist – the NFT ensures the security of the transaction, guaranteeing that the buyer receives their Ferrari safely, regardless of their location.

This visionary concept not only transforms car ownership into a digitized collectible experience but also pioneers a novel way for enthusiasts to engage with and trade high-value assets securely. As we usher in this era of innovation, the fusion of NFTs and tangible assets promises not just ownership but a thrilling journey at the intersection of luxury, technology, and the future. Buckle up for a revolution in ownership like never before.

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That’s an interesting suggestion. Who’s going to guarantee all this? The ferrari car company?

It seems to me that even if it occurs to them, the implementation of NFT will take place on the Ethereum blockchain. Well, at least because the company has its own consultants who will study the market before making an offer.

I agree that the concept is visionary. Several instances should be involved in such a concept. What about insurance? Taxes?

What happens if a ferrari owner sells the NFT but continues to use the car on a daily basis?

Would the NFT buyer be considered the owner of the Ferrari in his country if the Ferrari is in the US? What if the buyer is, say, in India? Who will ship the car to his country and who will organize all this? A service center? A dealership?

It seems to me that the idea can only live on in the coming years if it is an individual company’s fun. For example, something similar to a key fob. Every existing member of the ferrari club gets a key fob (NFT) and can simply pass it on to a future owner through the secondary market, nothing more.

If we’re talking about individual company interests, they can use NFTs of any standard.

And if we’re talking about “fractionalizing rights” through part ownership of a single NFT, that may be the new standard. But, in that case, one car would be allocated to all on 1/100 share rights. Would the car have 100 owners?

Let’s say that to own a car, to have full rights to it, requires holding 100 NFT out of a possible 100 at your address. But what if the NFT will have 60 owners at 1 subNFT. Who will maintain the car and where? What if 20% of the owners disappear? The car is left without a primary owner?

For example, you could make all 100 cars fail. This could be done by competitors of the company. Buy out 30% of the NFT of each car and just don’t use them or sell them. In that case, no one would ever get their hands on the car, and Ferrari’s experiment using the NFT would fail, with any consequences.

In such a case, the company can recognize the innovation as a failure and abandon this exeriment. Since, given the stage of first sale, the cars will be in the factory forever, without a single owner. This is a loss for the company, because the cars have to be kept somewhere. Given the value of the Ferrari, this is an unrealized profit on a real asset.

I don’t know. Too forward-thinking. Maybe you have some other way of visualizing the concept.

It is also a way to launder money or avoid taxes in certain countries.

I am against taxes and practically do not pay them for anything, but the influence and interference of the state in such processes will definitely be there. I have to register assets on relatives or budgetary employees.

Pay attention to how they are sticking their pathetic hands into crypto to make money on it in recent years.