.BankofAmerica says tokenization of automobile titles could enable fractional vehicle ownership, allow holders to pledge vehicle-title NFTs as collateral in the real world or within DeFi protocols and increase liquidity on marketplaces. By willcanny99
is an example of how companies and U.S. state and federal agencies are using blockchain-based solutions to drive efficiencies and lower costs, Bank of America said in a research report Thursday.
“Tokenization of vehicle titles could also enable fractionalized vehicle ownership, allow holders to pledge vehicle-title NFTs as collateral in the real world or within protocols and increase liquidity on vehicle marketplaces,” analysts Alkesh Shah and Andrew Moss wrote.
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