How to Fund a Supercar with an ICO – Arrinera example

CornerRight 2 min


Icons/Position/Pos. No. 4

Cryptocurrency


Icons/Technology/Tech No.1

AI

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.


Similar blog posts

10 Common Software Architecture Patterns: Expert Guide

8 min

Did you know that before starting a software development project, an architect needs to pick the software architecture for it? This is a common best practice in the tech industry that allows teams to make the most out of the software and create a better experience for users.

Wed/Mar/2022
see details

4soft Use Cases: Blockchain In E-Commerce

4 min

E-Commerce thrives. Online sales steadily grow by about 20% every year. To sustain this growth, online shops leverage every possible technology that helps them to be more efficient and get ahead of the competition to sell more, faster and at better prices.

Tue/Feb/2020
see details

4soft Use Cases: Blockchain in Healthcare

4 min

Report by BIS research says that in the next 6 years the healthcare industry can save $100 billion per year by using Blockchain technology. Usually, it is dangerous to cut costs in this area. When you’re dealing with health, any failure or slight decrease in efficiency can contribute to very serious complications. Life and death depend on the reliability of the IT systems and their ability to support rather than obstruct peoples’ work

Thu/Jan/2020
see details

5 Essential 4soft Articles on Smart Contracts

2 min

We’re working hard to share some of our knowledge on ICO and blockchain development with you, and some of the issues we’ve covered really struck a chord. Smart Contracts is a topic which raised particular interest. Take a look at some of the most popular articles:

Tue/Aug/2018
see details