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100 tokenized Teslas ‘democratize’ and ‘decentralize’ Web3 ride sharing

Published 06/27/2023, 05:26 AM
Updated 06/28/2023, 07:00 AM
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A Vienna-based car-sharing service company has outfitted nearly half of its 200+ fleet of cars with blockchain-based self-sovereign IDs for tokenization purposes.

On June 27, the car-sharing service Eloop and the Peaq Network — a Web3 ecosystem for the economy of things — announced that 100 Teslas had been tokenized via Peaq. The blockchain integration allows users to own a fraction of the fleet and share the revenue the cars generate from daily rideshare operations.

An Eloop tokenized Tesla (NASDAQ:TSLA) on the streets of Vienna. Source: Cointelegraph
An Eloop tokenized Tesla driving through the streets of Vienna. Source: Cointelegraph

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