Altr, a Polygon-based lending platform, will use Blockchain technology to solve the liquidity problems faced by owners of luxury collectibles when trying to convert assets into cash. Davide Rovelli, an advisor at Altr, explains that luxury collectors face several issues when converting assets into cash. When sold to a dealer, the collector may receive a lower offer because the dealer needs to make a profit when reselling the item. Taking the auction approach can increase the price, 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 digital assets as Collateral to quickly obtain on-chain loans. （Cointelegraph）

Jinse Finance reported that the NFT certification platform Altr announced the sale of a $2.5 million Ferrari NFT. Altr’s governance app, Lucidao, said the NFT was sold in less than 48 hours, and according to the company’s website, the transaction was in the USDT stablecoin. Altr says that when luxury goods are sold through its platform, it not only issues a digital proof of ownership minted on the Polygon blockchain in the form of an NFT, but also promises to safeguard the physical asset until a new owner decides to claim its item.