It is possible to invest in Cambodia's electric tricycles through NFTs--the first round of sales was sold out immediately | CoinDesk JAPAN

Invest in Cambodian electric tricycles with NFTs - the first sale sold out immediately

Singapore-based ride-sharing and cryptocurrency (virtual currency) related service provider MVL Group's Japanese subsidiary JMVL has launched a new platform called "MUSUBI" to manage vehicle leasing business on the blockchain.

The feature of MUSUBI is that it represents the lease contract of the vehicle as an NFT. Japanese corporate investors become owners of electric three-wheeled vehicles (electric tuk-tuks) operated in Cambodia by purchasing NFTs. The vehicles are then lent to drivers of the ride-sharing service 'TADA' through the local operating company ONiON.

Investors can check the real-time operational status of vehicles on the blockchain. The current location of vehicles, battery level, ride-sharing availability, etc. are visualized, and the payment status of lease fees can also be tracked. The lease period is 2-3 years, with an expected return of about 5-10% per annum. Lease fees can be received in either USD or Bitcoin (BTC).

The electric tricycle is made by ONiON in Cambodia, with a new car price of $4,700 (about 720,000 yen, calculated at 155 yen per dollar). For local drivers, this amount exceeds their annual income, but through the lease system via MUSUBI, they can use it without any initial costs.

The sale of 18 electric tricycles, which started in November 2024 as the first installment, was sold out by the end of 2024. JMVL will continue to sell electric tricycle lease investment products to Japanese corporations.