It might not be the high time to enter the digital space, but automobile manufacturer giant Chevrolet is stepping up into NFTs with a boom.
Non Fungible tokens are those entities that are digital pieces of art, character, or anything created on the blockchain that ensures authenticity and authority. Different NFTs come with different utilities and use cases and serve numerous perks to their owners. For instance, NFTs of any popular star like Eminem or Snoop Dogg would either make you eligible to earn a portion of royalty generated from the sale of any music album or act as a pass for exclusive events only for NFT holders, etc.
Furthermore, several NFTs also possess the characteristic where the digital art piece signifies the authority of an actual physical art piece. Now, all these use cases and formats of NFTs are those you might be already familiar with, but what about an NFT of a luxury car along with the chance to own an actual, physical, and running-conditioned car!
This will be real soon when American automobile company Chevrolet auctions an NFT of its upcoming car, the 2023 Corvette Z06. Chevy is known to be always on the forefront when it comes to cultural consciousness, and now it’s time to step into the digital space culture. Surprise doesn’t end here. The most fantabulous part about the NFT is that its winner would get a drivable real-world version of the same car, the Chevrolet 2023 Corvette Z06.
Cars from Chevrolet have been popular among automobile enthusiasts, and their cars become the town’s talk whenever they launch a new product. The all-new Corvette Z06 will be no exception, as it looks excellent.
The nonfungible token of Chevy 2023 Z06 is designed and created by Xsullo that would have the same ‘Minted Green’ color as on the real Z06. Moreover, Chevrolet has named this upcoming auction – the ‘Own the Color’ auction. The automobile company also said it will not use the same shade of green again on any other production Chevy 2023 Corvette Z06, which would make it a rare NFT on its own.
The auction is scheduled to go live on SuperRare, a prominent NFT trading platform, and it will start from 20th June till 24h June. During the auction of NFT, bids will be accepted only in Ethereum coins. It’s also worth mentioning that Chevrolet would not have the proceedings generated from the bids, as all of it will be donated to DonorsChoose, an educational non-profit organization.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.