COUNTACH EXPERIENCE OFFERS FRACTIONAL SHARES WITH NFT AND BALBONI-DRIVEN RIDE-ALONG TO SOME INVESTORS
(Atlanta, Georgia) March 31, 2023 — ’87 Countach Experience, a CryptoIntelXcompany, announces a unique approach to investing at the intersection of cryptocurrency and tangible assets. Fractional shares of a 1987 Lamborghini Countach are being offered in March of 2023. The Non-Fungible Token (NFT) acts as a receipt for the fractional ownership share. As the name implies, Countach Experience will distribute ownership experiences from the restoration process to NFT holders. Valentino Balboni and his cohorts built Countach in the Lamborghini factory back in the 1970s and 1980s, bringing their firsthand knowledge to this restoration dream team. As the process unfolds, video updates and behind-the-scenes interviews will be exclusively available to the NFT holders. Countach Experience is also offering factory and shop tours with a ride-along bonus in Italy for some initial investors.
Real estate developer Chip Bulloch started CryptoIntelX.com in 2023 to analyze, educate and speculate in the developing space of cryptocurrencies. His successes in real estate have focused the company at the junction of digital and ‘real world, physical,’ tangible assets, increasingly called ‘phygital.’ Applying blockchain concepts to his real estate investment background, he studied tokenization and fractional share issuances for use in land development projects. Bulloch felt the time was right for CryptoIntelX.com to craft a bridge between digital and tangible investments by complementing the fractional share of an actual collectible car with a receipt secured by blockchain; resulting in the Countach Experience NFT.
Fractional or corporately owned collectible car investments aren’t new. The shares offered constitute a share of ownership in a vehicle, conveying a proportionate amount of benefit and risk, usually without the responsibility of maintenance or restoration management. Similar fractional collectible car offerings generally aren’t secured by a blockchain component nor convey the same experiential considerations. They also appreciate only by the variable of market fluctuations while other manageable variables do exist; condition/restoration, campaign/awards, confirming neutral or positive unknown history.
By applying tokenization to this Italian investment vehicle - instead of digital art as many NFT have been thus far - the fractional share of the Countach is among the growing number of tangible asset backed NFT. Upon finding that the legendary Lamborghini factory test driver Valentino Balboni could do the restoration, Bulloch realized others might like to participate in the ownership experience. Bulloch is also the producer of the 2004 cult classic documentary reviewing Lamborghini history, “Lamborghini Experience - 40 Years of Excellence,” so he recognized the serendipitous nature of the project was worth sharing. NFT provide an ideal platform for sharing the ownership experience in a way otherwise reserved for traditional car ownership.
Fifty-one (51) of the 100 shares will be held by Mr. Bulloch, six (6) remain of the first ten packages offered at USD$8000 per share. Another 10 will be offered in a second tier, differently packaged. Countach Experience shareholders can trade or auction their shares. Assets that, by nature are indivisible into smaller units may still be tokenized to enable smaller, more liquid denominations with the distribution of ownership benefits and risks without owning the entire asset. Similarly, fractionalization makes large assets more accessible to a group of like-minded investors, while also breaking down the investment into smaller units of risk, benefit and commitment that can appeal to a greater number of investors. It can be a great way for investors who aren’t ready to commit to an entire project single-handedly yet still enjoy a process like restoration with a close, invited group, yet incurring little if any management expectations and maintaining some level of liquidity.
A reasonably bullish valuation considering the car’s 20+ years of single ownership by a serial Countach owner who happens to be the producer of a Lamborghini documentary, added to Valentino Balboni’s restoration team’s factory pedigree all add to the car’s provenance. Balboni and Bulloch can be relied upon to optimize this exotic design icon, making a USD$700,000 to USD$800,000 USD valuation reasonable, yet the additional owner-exclusive experiential components are valuable on their own merit. Custom automotive art, video production, and blockchain projects require liquidity, expertise, and curatorial creativity. Mr. Bulloch’s team’s perspective delivers well-informed content, providing exclusive access to NFT shareholders and potentially a limited release later to a wider audience. Factory, shop, museum tours, and ride along with Valentino Balboni are available to the first ten shares, and though one must make their own way to Italy, it’s an experience otherwise not for sale.
The collectible car community is familiar with auctioned vehicles for use in the real world. Internet gamers are more familiar with online auctioned NFTs which often represent digital artwork secured by blockchain for use or trade in the metaverse. For further car community context, the highly publicized Barrett-Jackson NFTs auctioned in 2021 and 2022 included no portion nor physical access to any vehicle - just the promise of owning an exciting moment on the block by way of digital content secured by blockchain. Some would argue that no event or moment in time can be owned. Others found it confusing to see imagery of a car on the famous car auction block without an actual car or tangible automotive item or ephemera being sold.
Tangible assets generally have holding and improvement costs in addition to market changes. Holding costs may include legal, monthly maintenance, storage, and insurance expenses. Like the 4C’s of diamond evaluation, collectible cars have 3 main variables: desirability, provenance, and condition. Restoration can require shipping a car overseas and finding correct rare parts, skills, services, and records. Adding historical documentation can add some value to older cars if unknowns exist, but restoration is generally the most significant improvable variable. The condition can be forcibly increased or decreased (independent of market fluctuations) through restoration, while the value of a tangible asset such as real estate or vintage vehicles is also impacted by the market or its desirability.
In collectibles, supply is limited by the production volume of a past model year, usually a well-known number. Attrition reduces the total number of extant examples of a model, with restorable “barn finds” very rarely adding to the total number of cars. Usually, available supply for a particular model is limited to only a handful of examples offered in a given year, with only some transactions publicized by auctions. Restoration of such assets requires deep and siloed subject matter expertise to obtain optimal value, yet often there are few experts respected for a particular marque or even model.
Countach Experience offers not only a share in the financial outcome but also the pleasures, artful discoveries, mechanical intricacies, and camaraderie of such projects without the unknown headaches and stress that usually arise in the management and funding of such undertakings. The car and restoration team tick the boxes for provenance and condition, and its design, desirability, and market trends in investing and collectible cars all appear quite favorable. Demographics and historical significance of the design will synergize with beautifully crafted imagery to enhance this historic offering.
While the Countach Experience investment is available only to accredited investors, and risk always exists, its insured value is USD$750,000 - should a claim require proportionate distribution. Unlike the Sam Bankman Fried debacle, wherein funds disappeared entirely, the risk is reduced by the asset’s insured, real-world existence. While digital-asset-backed cryptocurrency NFTs have their market ups and downs, some might say that a physical Lamborghini currency is worth more than a fiat currency - definitely more fun to own.
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