Chevrolet enters the Web3 with an NFT exclusive green Corvette

American carmaker Chevrolet has announced plans to auction off a Corvette-themed NFT. The winner of the auction will not only be the owner of the NFT, but will also get the depiction of the real sports car.

An exclusive partnership

Chevrolet, a subsidiary of General Motors, has partnered with the NFT SuperRare market to auction off an absolutely unique digital collectible representing the future Corvette Z06 2023.

“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 connect 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 hit 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 supports teachers in need financially. As the auction will only accept ether cryptocurrency as payment, the donation will also be made in cryptocurrency. More and more charities are getting into cryptocurrency. Recently, an association in the UAE announced it would accept cryptocurrency donations.

The Corvette is a halo for Chevrolet. It is the pinnacle of performance and staying at the forefront means entering 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 springboard for Chevrolet towards future digital initiatives for our customers.. “

The auction will therefore be held on SuperRare between 20 and 24 June. In addition to the price of the NFT, the gas costs associated with the Ethereum network must also be taken into account.

Source: SuperRare xsullo

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 dissolve dramatically. However, cryptocurrencies are a long-term gamble and not all projects can and should stop just due to changes in market prices.

The adoption of cryptocurrency and blockchain technology continues massively, both at the state level with a second country, the Central African Republic, which has recognized bitcoin as legal tender, and 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 auto world isn’t the most interested in cryptocurrencies at the moment, though initiatives have been reported, such as when Ferrari’s chief executive admits the automaker is interested in blockchain, Web 3.0, and NFT.

We will follow this auction with interest, which is likely to make a lot of noise. The car and the NFT will be unique and this can create high demand from collectors and investors.

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Alessio Patin

Passionate about geopolitics, economics, cryptocurrency, Eurasia and travel! (as far east as possible), crypto-trader for 4 years.

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