Within just 10 days for each campaign, an international community eagerly awaiting new campaigns purchased shares of the first two luxury watches on the co-ownership platform.
LUGANO, Switzerland, Nov. 18, 2023 /PRNewswire-PRWeb/ -- Elephants, the pioneering co-ownership platform for luxury watches based in Switzerland, is thrilled to announce a series of significant achievements and upcoming enhancements that are reshaping the landscape of luxury watch ownership and leading the charge in the tokenization of luxury assets. Furthermore, Elephants is excited to reveal that it is actively working on a new funding round to sustain and accelerate its remarkable growth trajectory.
Rapid Campaign Success:
Elephants is proud to report that the first two campaigns conducted on its platform after the official launch last June were a resounding success, each closing in just 10 days on average. This achievement underscores the growing demand for affordable access to iconic luxury timepieces.
The first campaign featured the coveted Patek Philippe Nautilus 3800/001, which sold for CHF 62,000, demonstrating the strong appetite for rare and exquisite watches within the Elephants community.
In the second campaign, the Rolex Submariner 16808 "Nipple" Dial was made available to co-owners for CHF 35,000, further reinforcing the platform's commitment to offering a diverse range of luxury timepieces.
Combining the success of these campaigns, Elephants raised an impressive total of CHF 97,000, showcasing the platform's potential to revolutionize luxury watch ownership through co-ownership.
A third campaign has just been launched, and it's performing exceptionally well with 94% of its funding already achieved. It's a Rolex Daytona Zenith Patrizzi 16520, renowned for its unique 'Patrizzi' dial, which develops a distinct brown hue over time, making each watch truly one-of-a-kind.
Elephants has attracted international attention, as confirmed by the fact that users participating in the campaigns come from 24 different countries. "These numbers underline the global interest in co-owning luxury watches," said Paolo Catalano, CEO and co-founder. "We are very pleased because we are experiencing exponential growth in the user base just a few months after the launch, with over 900 registered users and a waiting list of 7,000 people," Paolo Catalano concluded.
Exciting Developments Ahead:
"Several new features are coming to the platform to enhance the user experience - Gianvito Grasso, CTO and co-founder of Elephants, said - "In the ongoing campaign, users already have the option to pay with cryptocurrency, adding a new level of flexibility and convenience during the purchase process."
By the first quarter of 2024, Elephants plans also to launch its secondary market, empowering members to sell their ownership tokens to other Elephants members. This exciting feature will further democratize luxury watch ownership and provide opportunities for new users and enthusiasts alike.
Continuing the Growth Path:
Elephants is committed to building on its current momentum. To support its ambitious growth plans and bring even more opportunities to its users, Elephants is actively working on a new funding round. This strategic move will enable the company to scale its operations, expand its product offerings, and reach new markets.
Elephants is at the forefront of a transformative trend in luxury assets: tokenization. The platform is making this trend a reality by enabling users to co-own iconic luxury watches. This innovative approach not only increases accessibility but also opens up new avenues for diversification and ownership in the luxury market.
To learn more and join the Elephants community, visit www.elephantsclub.io.
Elephants, founded in Switzerland in 2022, is a platform aimed to democratize the luxury watch market as an asset class.
Elephants operates in accordance with Swiss regulations and it is affiliated with the SRO SO-FIT. The Elephants token is representative only of the ownership right to a fraction of the watch and with the transfer of the token the related ownership right is also transferred.
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SOURCE Elephants SAGL