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ETHZilla Acquires Jet Engines in $12.2 Million Deal as Part of Asset Tokenization Pivot

ETHZilla's new subsidiary, ETHZilla Aerospace LLC, purchases jet engines worth $12.2 million and plans to expand into tokenized real-world assets, despite recent financial challenges.

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Summary

ETHZilla has acquired two CFM56-7B24 aircraft engines worth $12.2 million through its subsidiary, ETHZilla Aerospace LLC. This purchase is part of its broader pivot towards asset tokenization, alongside plans to bring auto and home loans onchain. Despite selling $114.5 million in ETH to fund stock buybacks and debt redemption, ETHZilla continues to pursue its goal of launching tokenized assets in 2025.

Terms & Concepts
  • asset tokenization: The process of converting ownership of physical assets into digital tokens on a blockchain, making them tradable and accessible to global investors.
  • ETHZilla Aerospace LLC: A subsidiary of ETHZilla formed to manage its aerospace investments, including the leasing of jet engines to major airline operators.
  • CFM56-7B24: A model of aircraft engine leased to airlines by ETHZilla, widely used in commercial aviation, particularly in Boeing 737 aircraft.