July 31, 2018

How to Fund a Supercar with an ICO - Arrinera example

They say there’s no better way to earn money for a new Lambo than trading in cryptocurrency, but there’s much more to it. An ICO is a brave new way to fund business projects – and it can be a way to create a new supercar.

Blockchain Development and Hypercars

Arrinera is the company that created Hussarya, a bespoke hypercar. They create low volume limited editions – and that requires a lot of Research and Development along with high budgets.

To fund their new electric hypercar project, Arrinera decided to launch their own currency called ARRI Coin. Investors that acquire the tokens will gain access to a few interesting features. They will be able to support the design process through a special application, vote for the best designs, drive the cars on the track during Arrinera events, buy gadgets and, eventually, buy the car itself.

ICO in the Process of Fundraising

At this point, we have to ask the question, if blockchain technology is useful for this project or if it’s only a marketing trick? It’s an interesting indicator in an Initial Coin Offerings (as we write in one of our posts on ICO and fundraising).

Well, Arrinera has an answer for that – the technology will be used on multiple layers of each projects. It will be sewn not only into their design, manufacturing and online communication process, but also into the electronic system of the car.

Blockchain can be the answer to usual problems connected with the service history. It will log mileage, indicate spare parts, keep ownership records, and give the ability to monitor the car online.

In the end, Arrinera’s ICO is an interesting example of applying an ICO and blockchain to the automotive industry, giving opportunity to basically crowdfund a supercar.

July 31, 2018