The decision to adopt blockchain technology on our platform is one of the key design elements of the platform. Another essential cornerstone of the platform is the adoption of The Luxury’s own native cryptocurrency, The Luxury (the “iLux”).
The ecosystem of The Luxury will be dependent on the iLux for its proper functioning and long term sustainability. This increases the stability of the platform as The Luxury is not dependent on the viability of other (crypto)currencies. Consequently, potential risks associated with other (crypto)currencies such as security flaws are mitigated. Moreover, the development of a native currency is an important prerequisite for maintaining a sustainable economy within the platform.
- Instant conversion to/from Fiat
- Loyalty programs
- Mobile App
- Artificial intelligence
Managed and delivered through The Luxury’s digital platform, enabling hassle-free shared ownership.
An exciting new way to access, own, experience and invest in valuable assets. Whether your interest or aspiration is for art, wine, watches, yachts, classic cars, racehorses, properties, etc.
Our state of the art digital technology allows us to split any valuable asset into shared ownership. After a process of due diligence, the asset is transformed into shares and made available to our members. For example, you can become one of ten co-owners. Co-ownership rights and obligations are governed through a standard “Co-ownership Agreement”.
The Luxury’s team identified five problem areas based on their years of experience in the luxury industry and in-house blockchain expertise.
Lack of integrated solution across different luxury brands
The Luxury cryptocurrency payment solution triggered a lot of interest from different luxury service providers such as private jet services and luxury resorts. These companies were interested in introducing a similar payment solution for their individual brand. However, creating individual payment solutions for every luxury brand did not prove to be efficient. Hence, there was a clear lack of an integrated solution across different brands within the luxury industry on a single common marketplace.