Tag: Cars

Hyundai Emerges as First Automaker to Roll Out Community-Based NFTs

by Blockchain News

South Korean auto giant Hyundai Motor has entered the non-fungible token (NFT) market after partnering with the ‘Meta Kongz’ NFT brand to enhance its customer community and brand awareness.

Therefore, Hyundai Motor becomes the first automaker to penetrate the NFT space with its own community, including channels on Twitter and Discord and the Hyundai NFT official website. Per the announcement:

“The Hyundai NFT community will provide its users with the Hyundai brand experience in the metaverse by sharing NFTs depicting its mobility solutions.”

The channels will help the Hyundai NFT community to manage the non-fungible tokens’ value.

 

Hyundai also released a short film showcasing its NFT universe concept dubbed “Metamobility Universe” that was first rolled out at the Consumer Electronics Show earlier this year. 

 

Meta Kongz is a famous NFT gorilla character, and the film reflected the ‘Metamobility’ concept, which is expected to offer a smart device-metaverse connection.

 

Hyundai also intends to offer 30 limited editions of the NFTs on April 20 to commemorate the film release. 

 

Profits are expected to be channelled towards community members and the project’s management.

 

Thomas Schemera, Hyundai Motor’s global chief marketing officer, acknowledged:

“The Hyundai NFT Universe will extend the Hyundai brand experience, especially with the MZ generation, in a completely new way, further reinforcing our commitment to innovation in both the real world and the metaverse.”

He added:

“We are extremely excited to introduce ‘Metamobility’ through our own NFTs and start this journey with Meta Kongz.”

Various auto giants, such as Lamborghini, McLaren, and Mercedes-Benz, have entered the NFT space though the concept adopted entails representing exotic and luxury cars as digital assets.

 

Last month, McLaren partnered with InfiniteWorld to showcase its luxury hypercars and supercars in the metaverse in the form of NFTs. 

 

Users were to have the chance to own McLaren-branded products irrespective of whether they could afford an automobile from the company or not.

Image source: Shutterstock

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New Alfa Romeo SUV uses NFT and blockchain to track car records

by Cointelegraph

Italian carmaker Alfa Romeo has unveiled its latest vehicle, the Tonale SUV. The firm claims that it is the first in the industry to connect each vehicle to its own blockchain-based token, which can keep track of the car’s whole life cycle.

One of the most distinctive features of this SUV is that each car is linked to an accompanying NFT. The Tonale NFT, according to Alfa Romeo, certifies a car upon purchase and then simply records and keeps data during the vehicle’s lifespan. Francesco Calcara, Alfa’s head of global marketing and communication, said:

“Upon customer’s consent, the NFT will record vehicle data, generating a certificate that can be used as a guarantee of the car’s overall status, with a positive impact on its residual value.”

Automobile companies are increasingly investing in the NFT market, which is forecasted to reach $240 billion by the end of the decade — minting unique collectible digital tokens that are sometimes included with vehicle purchases.

Related: Automakers are minting NFTs, but is there a strong use case?

Blockchain is now being linked to everything from real estate deals to sports fan engagement tokens. Nonfungible tokens (NFTs) have recently generated headlines as businesses race to get on board with this new technology.

Other luxury car makers such as Lamborghini, Rolls-Royce and Mercedes-Benz have experimented with NFTs. Lamborghini, for example, launched its first NFT project, “Space-Time Memory,” a set of five pictures showing a Lamborghini Ultimae going into space.

Mercedes recently teamed up with Art2People to develop a limited-edition Mercedes-Benz NFT collection inspired by its G-Class vehicle lineup.