There’s a new fractional ownership company in the works. Otis aims to offer a variety of assets for investment through share offerings. The mission from the website states –
Our mission is to democratize access to wealth. Otis is a marketplace for alternative assets. Simply put, Otis democratizes access for normal people to invest in the same things as billionaires, such as art and real estate. We offer these opportunities as investments for as little as $10.
The website indicates offerings that would include a wide variety of assets such as Sculptures, Sneakers, Street Art, Music Albums, Museums, Movies, Collectibles, Coliving Spaces, eSports, Vertical Farms, and Renewable Energy.
The company plans to offer access to trophy items and scarce collectibles while diversifying into assets to manage risk better. Otis also intends to do all the work of sourcing, storing, maintaining, securitizing, and analyzing the assets they offer for investment.
From the website, Otis explains they plan to hold each asset for 5 – 10 years. Still, they will vet any offers from outside parties and potentially sell the asset and liquidate all investors if the investment committee agrees to the sale.