TEND: Everyone Can Have a Little Bit of Luxury With Ethereum Blockchain

Nov 2, 2017

TEND- Everyone Can Have a Little Bit of Luxury With Ethereum Blockchain

Everyone Can Have a Little Bit of Luxury With Ethereum Blockchain. With a new Ethereum Blockchain start-up you can own One-Sixth of a Porsche. Blockchain Luxury Company TEND was founded by a former Credit Suisse banker. Ethereum Blockchain will give you a chance to experience luxury life at least at a small level. Thanks to the technological miracle of the Ethereum blockchain, you can now “own” a digital token representing one-sixth of an expensive car that you can drive for exactly four days but only after going to pick it up somewhere.

Swiss startup TEND, founded by former Credit Suisse banker Marco Abele

The company behind this scheme is Swiss startup TEND, founded by former Credit Suisse banker Marco Abele. The way it works, according to the startup’s website and a customer service representative I spoke to, is that TEND first buys a luxury object like a vintage car or a Steinway piano. Users may also put their own objects or properties up for sale, but they have to be vetted by TEND. The company then creates digital tokens for those objects, which describe terms of shared ownership, and sells them to people.

You could partly “own” a classic car

For example, you could partly “own” a 1955 Porsche Speedster (read: four days of use, a club membership, and a racetrack experience). And when you’re done with your “investment,” you could sell your digital token representing one-sixth of a used car to someone else. Or, you could “own” a Steinway piano (read: one rehearsal day, opera tickets, and an “intimate concert”)!

Those token buyers collectively own that car or piano, although it is stored and maintained by TEND and the ability of token owners to change the terms of their ownership is limited, the customer service representative told me.

“We will use some of the proceeds of the token sales as capital to source [additional] assets,” the representative wrote in a message.

Opportunities which are currently beyond their reach

TEND’s business model sounds exactly like time-sharing on steroids, and it targets the same types of people. The TEND website states that the company will give people “opportunities which are currently beyond their reach but reflect their aspirations.”

Not yet accessible to the public

The company is running a pilot with 20 people, according to cryptocurrency news site CoinDesk, so the platform is not yet accessible to the public. But the company’s website gives an idea of what offers will look like in the future.

According to the customer service representative, co-owners can decide to take their object off the TEND platform entirely to store and maintain it themselves, but “the rights to change the terms [of ownership] are limited and depending on assets.”

Personally, I’m all for co-ownership. If I could legitimately co-own something useful but infrequently used, like a set of tools, that would rock. But timesharing luxury goods, simply because I could never hope to afford them myself? Man, that’s just dark, with or without the shiny blockchain tech. Source: Motherboard

WHAT IS TEND

Co-ownership of precious, special objects & unique assets

Investment objects that fulfill a passion or pursuit of a personally important purpose, sourced as a result of the interests of the clients themselves
Lowering the entry barriers that exist today, enabling people to get access to objects and experiences currently out of reach
Receiving an investment return as co-owner, i.e. benefiting from the appreciation or proceeds of the asset

Unprecedented
“real-life-experience” attached

Opportunity to see and enjoy the investment first-hand – creating a tangible, emotional return on investment
Sharing that experience with family and friends or a community of like-minded people who have common interest to invest together
Gives unforgettable memories, identity, and passion points of an otherwise unattainable unique experience

Fully serviced offering

Super light involvement for the clients, as TEND is taking care of the associated obligations of the object owners, including insurance and logistics
The TEND platform allows clients to trade (buy and sell) those investments in a very flexible manner
Experiences are provided together with a strong network of business partners fulfilling the service promise

How tokenization of assets works

First, an asset is undergoing the procedure of a due diligence to authenticate the asset
The asset is then split up in parts/shares and the associated experience per share is defined
The result is certified and the individual shares are put on the blockchain to be registered and be tradable thereafter

SECURITY, SWISSNESS
& HIGHEST STANDARDS

Data Security

All client data is stored physically in Switzerland and in full compliance with Swiss data protection laws.

Security Audit

Independent audits on our technology security, monitoring, infrastructure security and business continuity.

Quality Control

Rigorous commitment to reliable testing within a continuous release management.

Swiss Heritage

Trust, continuity and sophistication transferred into the digital world.

A NEW INVESTMENT WORLD

Our vision is to provide access to a new, diversified, and tangible investment world that is driven by passion, purpose and meaning.

We believe in the revolutionary power of blockchain, unleashing a hyper-connected, decentralized, and transparent world where the individual is empowered as never before.

This revolutionary mentality also extends to our approach to financing. This is why we believe Token Generating Events (TGE) are the future of financing innovative ventures.

We are guided by the highest business conduct standards, which is why our TGE will set the new community standard for all other token sales to follow. Our aim is to help TGE’s to succeed in the long term.