Thanks for the post - upvoted as always.
This seems like P2P lending, so I tokenize my car, get it valued, get tokens, convert to BTC then cash. Choose not to repay - seems to me the asset stays with me and there is little chance of it being repossessed. I take cars as an example as financial markets have moved away from securitising property loans which people cannot repay to auto-loans (our next impending financial crisis).
Conceptually a good idea BUT I do not believe the execution has been thought through. Invest in this and I suspect your money will vanish into the ether (pun not intended).