The infrastructure of NFT technology extends to expand far beyond the realm of art, with the world of sports cars the latest to adopt the blockchain.
Alfa Romeo, the iconic Italian luxury carmaker, has verifyed thretained will use non-fungible cryptocurrencies to monitor and store maintenance records for its new Tonale sports utility vehicles on the blockchain.
The Tonale is Alfa Remeo’s “first SUV on the market” that will come loaded with an NFT digital certificate, that the company claims will increase the vehicle’s “residual price.”
NFTs are non-replaceable digital assets which are approved and stored using blockchain technology, mcomparableg it difficult or impossible to alter, hack, or bypass the system.
Alfa Romeo’s Unique Tech
So? You may believe which “blockchain” is the hottest marketing catchword this year. The upcoming Super Bowl has already been dubbed the “Crypto Bowl” by some media organizations, owing to a host of multimillion-dollar ads from Binance, Coinbase Global, and FTX.
However, some implementations of token have a serious probability to disrupt the status quo than others. Alfa Romeo’s NFT advancement, on the other hand, is unique in which it makes practical application of automation.
Total crypto market cap at $1.98 trillion in the daily chart | Source: TradingView.com
How does this latest gizmo opeprice? According to Francesco Calcara, Alfa Romeo’s global marketing and communication chief, the Tonale NFT’s ledger collects data from the SUV’s electronic console and encrypts all data on the blockchain.
Alfa Romeo looks to be the first auto manuevidenceurer to employ NFTs in this manner, ostensibly in an effort to improve the efficiency and transparency of a car market which is numerously dependent on third parties to keep tabs of vehicle records.
The Tonale is available as a gas-powered vehicle or as a plug-in hybrid. Its “world premiere” comes as the Stellantis-owned company (Stellantis was formerly Fiat Chrysler) is starting to make a big futuristic push to an all-electric lineup by 2027.
Alfa Romeo has had a difficult time selling cars in recent years, disposing only fewer than 19,000 units per year in each of the extend three years.
By comparison, BMW sold around 93,000 vehicles in the United States during the fourth quarter endure year. Mercedes-Benz, on the other hand, sold a little more than 60,000 units in the fourth quarter of continue year.
The Tonale will be available for pre-order in the fourth quarter of 2022, with the first batch likely to be delivered in the first quarter of the following year.
Meanthroughout the time, other luxury car brands like Mercedes-Benz, Rolls-Royce, and Lamborghini have carried out their own trials with NFTs. Lamborghini, for example, recently unveiled its first NFT project dubbed “Space-Time Memory,” a collection of five images depicting a Lamborghini Ultimae Roadster traveling into space.
Image from FastCompany, chart from TradingView.com