Supercar Maker Mazzanti Cruises Into Crypto With Bitcoin Payments, Token Sale

Mazzanti's security tokens will provide a 50% revenue share in the sale of a special edition "hypercar," but so far interest has been limited.

Mar 1, 2021 at 10:53 a.m. UTC
Updated Sep 14, 2021 at 12:18 p.m. UTC

Italian supercar manufacturer Mazzanti is roaring into the crypto space with the acceptance of bitcoin payments and the launch of a security token offering (STO).

According to a press release shared with CoinDesk on Thursday, Mazzanti is aiming to raise €1 million ($1.2 million) to develop a special edition of the Evantra Millecavalli R "hypercar."

"We immediately recognized the potential of security tokens for our goal of inclusion and expansion," said Mazzanti's founder, Luca Mazzanti, in the release.

The Mazzanti tokens (MZZ), which require a minimum 50 euros (US$60) buy-in, in total will provide a 50% revenue share in the sale of the special edition Evantra Millecavalli R, according to the release. The sale has 56 days left to run.

STOKR's co-founder Arnab Naskar said the MZZ tokens are designed to "empower both private and professional investors to actively take part in the firm’s growth by acquiring a share in its future revenue."

The tokens are currently being issued via Blockstream AMP, a platform for the tokenization of securities built atop the Liquid sidechain of bitcoin.

However, data from digital marketplace STOKR, the platform used to market the tokens to potential investors, shows the offering is slow off the line with just €100 ($121) raised since launch on Feb. 25.

Mazzanti has also enabled a new service allowing customers to buy all editions of its Evantra model with bitcoin.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.