To most people, the term NFT will sound like the collection of overalls sold, at the height of the bubble, for hundreds of thousands of dollars. The website the misnamed future of digital art, which every day seems to be of less and less interest to the majority of users, could have a brilliant ally in the automotive industry. Not in terms of collecting. Neither in terms of virtual cars in the metaverse, but rather in terms of plan the future of a car’s history in an unforgettable way.
Alfa Romeo, with its new Tonale, has made a curious use of NFTs which is actually a remarkable idea and which, most likely, will sooner or later be copied by the rest of the industry. And it will be because basically, by using NFT technology, it was able to guarantee, unfazed, the value of a car in the future.
Simply put, non-fungible tokens or NFTs are blockchain-based crypto assets with unique identification codes and metadata that distinguish them from each other and make them tamper-proof At least in theory. This technology makes it possible to generate a unique identifier whose data is representative of a moment in time, thus certifying its authenticity.
And this is where the idea of Alfa Romeo, born with the arrival of the Tonale, takes on its full meaning: to generate a certified, tamper-proof and transferable NFT of the car’s history, which offers at a glance all relevant data of a specific vehicle. The range of possibilities is enormous: from specific data to the production of the car, its VIN, to the specific history of the car: mileage, battery cycles, revisions, accident reports, parts changes… the range is huge, and really has no limits.
The Alfa Romeo NFT guarantees the veracity of the real state of the Tonale
The usefulness of Alfa Romeo’s NFT is a guarantee for the future of precisely knowing the condition of a car in a tangible and certified way. A giant step forward not only for a possible second-hand market where we can guarantee that the data is exactly what it is. It’s also so the owner can easily access a digitally signed certificate of the history of the car they’re driving.
Conceptual idea of what the NFT would look like. Does not match the actual picture.
In this sense, its greatest utility is perhaps to guarantee the condition of the car during a future sale and purchase, and it solves in one fell swoop many disadvantages of used car real condition warranty. Also, because the new Alfa Romeo is smarter, it opens the door for the company to continue adding automotive telemetry to its NFTs and status certificates, so at a glance we could even know in the future how the car was driven by the previous owner. Things like braking, if the RPM threshold has been exceeded and for how long whether the engine/battery temperature has been correct, etc. Also, the way to generate the Alfa Romeo Tonale NFT is very simple, just generate the certificate from the Wallet of the mobile application which allows access to information and control of the Tonale, already a standard in the automotive industry. This way of using NFTs may not be as dramatic as when we think of this technology in terms of interchangeable digital art, but Alfa Romeo’s idea with Tonale’s NFTs is much more useful, important and tangible for the future of the automotive sector. A future in which, we are sure, the rest of the industry will follow in Alfa’s footsteps.
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Alfa Romeo had the brilliant idea of using NFTs with the Tonale
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