Polygon-based lending platform Altr will use blockchain technology to solve the liquidity issues owners of luxury collectibles face when trying to convert their assets into cash.
Davide Rovelli, a consultant at Altr, explained that luxury goods collectors face several issues when converting assets into cash. When selling to a dealer, a collector may receive a lower offer because the dealer needs to make a profit on reselling the item. Auctioning can increase prices, but it also requires a lot of preparation time and third-party fees. It believes that blockchain can play a role in solving these troubles for collectors. According to Rovelli, collectors can digitize their collections, create digital ownership certificates in the blockchain, and use the digitized assets as collateral to quickly obtain on-chain loans. (Cointelegraph)