PARAMETA, SPITZEN, and PIPELINE Join Forces to Build a Mobility Fractional Investment and Membership NFT Platform Using STOs
March 8, 2023, Seoul — Web3 Enabler PARAMETA (formerly ICONLOOP, CEO JH Kim) is collaborating with SPITZEN (CEO Daesik Jeon), which pursues a premium mobility life true to the fundamentals, and Web3 accelerator PIPELINE (CEO Yonggyun Lim), to build a mobility fractional investment and membership NFT platform using STOs.
The SPITZEN Web3 platform the three companies are jointly planning combines a fractional investment platform for rare classic cars using security tokens (STOs) with a membership NFT (non-fungible token) collection. It is Korea's first automobile fractional investment platform, providing the mobility services consumers need in one place. Through the platform, users can conveniently access services across the mobility spectrum — vehicle maintenance, high-end tuning, car care, car sharing, luxury car rental, concierge services, and participation in motor shows and track days.
In this collaboration, PARAMETA provides the blockchain and Web3 technology on the basis of PARAMETA Service, which makes it straightforward to configure and adopt the core elements of Web3 such as wallets, NFTs, and STOs. SPITZEN, a premium automotive company with a specialist identity and bespoke systems in mobility, and PIPELINE, an accelerator pursuing mass adoption of Web3 by identifying promising projects at home and abroad, will connect a range of mobility infrastructure to create synergy.
With the Financial Services Commission publishing its STO guidelines (a framework for regulating security token issuance and distribution) in February, the door is expected to open for fractional investment platforms to take off in earnest. On the basis of the platform they are preparing, the three companies aim to offer the opportunity to invest small sums in expensive automobiles — an area of high interest but difficult access for the MZ generation. They plan to share returns with platform participants and pursue growth together, leading the development of an ecosystem for the automobile fractional investment market while continuously identifying sustainable, community-based revenue models.
"In an STO market where real estate and artwork have been the mainstream, we plan to present rare automobiles — whose value is rising worldwide — as a new category," representatives of the three companies explained. "Through this mobility fractional investment platform, we will create opportunities to access specialized alternative investment assets that have had high barriers to entry."
# # #
###