Alta Finance Joins Forces with Pocket
Orem, Utah-based Web3 real-estate investing platform, Alta Finance, has announced it has formally exited and has joined forces with Pocket, a rapidly growing sales platform in the luxury automotive market. Details of the nature of the collaboration or transaction have not been disclosed.
As reported by TechBuzz in October 2022, Alta Finance, AltaFin, or simply "Alta," was co-founded in Lehi, Utah in August 2020 by Jeremy Crane, Ammon Werner, and Rob Fuller. At that time the company was focused on decentralized, commercial real estate development and financing using DeFi protocols. Later it announced a vision to build thousands of vertiports, i.e. landing locations for drone-inspired vertical take-off and landing (VTOL) aircraft, over the next decade.
By combining forces with Pocket, a substantial pivot, Alta Finance seeks to provide "blue-chip automotive investment services, addressing the growing demand for diversified investment opportunities in the luxury automotive market,"according to Jeremy Crane, Founder and CEO of Alta Finance, and also CEO and Co-Founder of Pocket.
“Being in the unique position of Founder at both enterprises allowed for us to find a rapid fit as well as mission alignment that maximizes the value of the technology developed at ALTA Finance to date and provides value for the current shareholders,” said Crane.
“Pocket membership growth is on a tear, and their mission to expand into blue-chip automotive coincides perfectly with the expanded Web3 Equity investment technology in the ALTA Finance platform.”
According to Crane, "Pocket's leveraging of Alta Finance's technology, smart contracts, and legal frameworks is expected to accelerate the delivery of innovative solutions to its members. The strategic move positions Pocket to provide enhanced blue-chip automotive investment services, addressing the growing demand for diversified investment opportunities in the luxury automotive market."