American car company Chevrolet has announced plans to auction a Corvette-themed NFT. The winner of the auction will not only be the holder of the NFT, they will also get the real sports car depicted.
An exclusive partnership
Chevrolet, a subsidiary of General Motors, has partnered with the NFT marketplace SuperRare to auction an absolutely unique digital collector’s item, representing the future 2023 Corvette Z06.
“Own the Color” represents Chevrolet’s first “appearance” in the Web3 space. The auction winner will also receive a physical version of the car. It’s a great way to link the physical and the digital. In the same branch, Prada launched an exclusive collection in early June on the same concept for 100 gender-neutral shirts.
The NFT artwork was created by digital artist xsullo and depicts the car in stricken green. To make the auction and its products more exclusive, the Corvette Z06 will not be available for sale in minted green this year.
All proceeds from the NFT auction will be donated to DonorsChoose, a charity that financially supports teachers in need. As the auction will only accept ether cryptocurrency as payment, the donation will also be made in crypto. More and more charities are getting into cryptocurrencies. Recently, an association in the United Arab Emirates announced that it would accept donations in cryptocurrency.
” The Corvette is a halo at Chevrolet. It’s the pinnacle of performance, and staying ahead means breaking into new territory as a pioneer.,” said Steve Majoros, vice president of Chevrolet Marketing. ” This is our company’s first NFT. We see “Own the Color” as an important stepping stone for Chevrolet towards future digital initiatives for our customers.. »
The auction will therefore be held on SuperRare between June 20 and 24. In addition to the price of the NFT, it will also be necessary to take into account the gas costs linked to the Ethereum network.
Risky launches in the middle of bear market
We welcome this risk-taking, particularly in times of bear market where many investors have seen their equivalent fiat value melt dramatically. However, cryptocurrencies are a long-term bet and not all projects can and should stop just because of market price changes.
The adoption of cryptocurrency and blockchain technology continues massively, whether at the state level with a second country, the Central African Republic, having recognized bitcoin as legal tender, or through the multiple companies that continue to surprise us. Chevrolet is therefore one of those companies that are pushing adoption and launching ambitious projects aimed at further democratizing Web 3.0.
The automotive world is not the most interested in cryptocurrencies at the moment, although initiatives have been reported, such as when the CEO of Ferrari admits that the automaker is interested in blockchain, Web 3.0 and NFTs.
We will follow with interest this auction which is likely to make a lot of noise. The car and the NFT will be unique and this can create quite a strong demand from collectors and investors.
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Passionate about geopolitics, economy, cryptocurrency, Eurasia and travel! (as far east as possible), crypto-trader for 4 years.
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Chevrolet enters Web3 with an NFT-exclusive green Corvette
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