ETHZilla Shifts Technique With Tokenized Jet Engine Providing

Crypto treasury firm ETHZilla has launched a token providing entry to fairness in jet engines that the corporate acquired final month as a part of its pivot into tokenized belongings.

ETHZilla stated on Thursday that the token, referred to as Eurus Aero Token I, was being launched via its new subsidiary, ETHZilla Aerospace, and is backed by two industrial jet engines which can be leased to “a number one US air provider.”

The corporate has priced every token at $100, with a minimal buy of 10 tokens. ETHZilla stated it’s focusing on an 11% return charge primarily based on holding it for the complete time period of the engine leases that reach into 2028.

ETHZilla was previously a clinical-stage biotech firm referred to as 180 Life Sciences Corp that pivoted to purchasing and holding Ether (ETH) in July amid a frenzy of latest crypto treasury corporations on the time.

ETHZilla chairman and CEO McAndrew Rudisill stated the challenge “expands funding entry and modernizes fractional asset possession in markets which have traditionally been out there solely to institutional credit score and personal fairness.”

“Providing a token backed by engines leased to one of many largest and most worthwhile US airways serves as a robust use case in making use of blockchain infrastructure to aviation belongings with contracted money flows and international funding demand,” he added.

ETHZilla shifting away from crypto treasury

Rudisill stated in December ETHZilla is transferring away from simply shopping for and holding ETH and goals to construct a enterprise that brings belongings on-chain via tokenization.

Crypto treasury corporations skilled vital progress and hype final 12 months, however enthusiasm has since began to chill throughout the market.  

ETHZilla bought the 2 jet engines for a mixed $12.2 million in January, after promoting off a few of its ETH stash final 12 months.