Home Finance Porsche ventures into the Metaverse and reveals plans to launch NFTs at...

Porsche ventures into the Metaverse and reveals plans to launch NFTs at Art Basel

309
0

Car manufacturer Porsche has unveiled plans to venture into the virtual world using non-fungible tokens (NFTs). The automaker revealed plans to launch Porsche NFTs at the Art Basel trade show currently being held in Miami, Florida.

Details of upcoming Porsche NFTs

According to the company, the collection will feature a total of 7,500 unique NFTs. The company also confirms that it will launch the collection in collaboration with renowned 3D artist Patrick Vogel, whose studio ALT/SHIFT will create the designs.

Buyers can choose their car from the three main themes available, namely: Lifestyle, Performance and Legacy. However, each individual user will be limited to three possible purchases. Users will also be able to view their cars on the metaverse via rendering in Unreal Engine 5.

Read:  Terra collapses as Do Kwon flees to avoid jail in South Korea

And all things being equal, it is expected that collections will be available for deployment by January 2023.

Speaking about Porsche’s planned launch, Detlev von Platen, board member for sales and marketing, suggests that it is a necessary move that aligns with the company’s understanding of recent trends. He stated:

“The NFT artworks allow us to bring our understanding of modern luxury and the unique positioning of the Porsche brand into the digital world.”

Meanwhile, it might be worth mentioning that this is not Porsche’s first foray into the NFT space. Although this first attempt was not about art. The brand ran an NFT program that rewarded users with digital badges used to access specific race tracks and official events.

Read:  World Bank report forecasts bleak global economic outlook, citing "adverse developments" and a "sustained slowdown"

More recently, however, Porsche continues to focus on artist relationships to tap into the great potential of these partnerships. One of the many benefits of these new partnerships is that they allow the brand to access new and even larger audiences.

For example, Porsche experimented with this idea with its Taycan model in 2022. It entrusted it to streetwear designer Sean Wotherspoon, who covered the body with custom pastel hues. The vehicle’s exterior was given to another artist, Shun Sudo, at a different time. Sudo also painted brightly colored flowers on the exterior.

Previous articleBronchiolitis in children begins to subside and hospitals are now preparing for flu in adults
Next articleItaly wants to tax crypto-currency gains at 26% from 2023