Over the last year, we have seen several car makers get into the NFT world including big names like Lamborghini and others releasing NFTs of their cars. While these first few releases, I have not seen a ton of utility for I think car manufacturers realized early on there would be huge benefits. Starting next year we will be getting the first "upgrade" in my mind of these previously released NFTs. Italian Luxury car maker Alfa Romero's 2023 Tonale SUV hybrid is going to be the first physical car powered by blockchain technology. This is an astronomical switch by a company to do this but with Alfa Romero this really just part of the huge shift in the company as this SUV has been announced as the beginning of the end of the internal combustion engines in Alfa Romero vehicles.
Not all of the details are known yet about what blockchain it will use or how exactly it will function on the blockchain but some details have already come out. When someone purchases a Tonale they will receive an NFT representing the car. This NFT will record critical information about the maintenance of the car by showing when and how the vehicle was maintained. I imagine this also as a Carfax of the car but provided by the car itself! Carfax if you have not heard of it before is advertised as a company that provides a reliable and thorough history of a car.
The applications for this idea moving forward are huge and I think have the ability to really further merge the physical world and the metaverse. This could encourage companies to get into the space and issue NFT's to owners so that when they are in the Metaverse as well they will have their car. By also having the data about the car on the blockchain you can get honest and true information. Insurance issuers would be better able to "punish" bad drivers and reward good drivers with lower-cost insurance.
I imagine this year seeing more companies announce NFT issuance similar to this. Someone like Tesla or even GM/Ford could hop on the NFT chain and even if it does not provide data on their cars rather just "gift" the NFTs to the car owners to enjoy in the Metaverse. Car collectors in particular could really be attracted to this as they could "build" their dream collections or even the collections they have in real life. Someone like Jay Leno who is known to have an absolutely crazy collection could even create something where you can "enter" his garage and see his cars. Heck, he could charge a fee as well and many many people would do it! This would prevent the real physical cars from getting damaged and allow Leno to make some money from his investment! Again this is just the beginning of seeing large companies and corporations adapting to the newest trends and providing further benefits to their customers!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
Robinhood
Currently, Robinhood is offering an amazing deal where you can choose 3 different companies you want fractional shares of when you sign up using the link here and connect your bank account! You also are added to the crypto wallet waitlist and like always both stock and crypto trading is commission-free! 🤝
Fold App
Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 5,000 sats for free!
Unstoppable Domains
Sign up using my link here and get a free $10 credit towards your first $40+ purchase!
Coinbase
Sign up for Coinbase and earn $10 of free Bitcoin when you buy or sell $100 in crypto with my referral here!
SMiles
If you are like me and walk to work every day this app rewards your walking with Sats! So far I have earned over 4,000 sats in just a couple of months walking to work! Here is my link!
