January 27, 2023

Porsche to launch its own NFT collection of 7,500 items

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Porsche to launch its own NFT collection of 7,500 items

The German automaker will launch in January 2023 the first collection of 7,500 non-fungible tokens based on the classic Porsche 911.

Porsche management said that in order to createcollectible tokens, the company attracted Hamburg-based designer and 3D artist Patrick Vogel. The peculiarity of the collection is that buyers of tokens will be able to decide in what style their individual NFTs will be executed: Performance, Lifestyle or Heritage. Each of the three types, the developers assure, has characteristics inherent in the Porsche brand, which will be reflected in the design of the NFT.

After the user purchases the NFT,the artist will start designing the token as a 3D asset using the Unreal Engine 5 game engine. In addition to participating in the creation of NFT images, their owners are promised exclusive access to virtual and real events related to Porsche.

“NFTs will allow us to convey our understanding of modernluxury and the unique positioning of the Porsche brand, reflecting it in the digital world,” Detlev von Platen, Member of the Executive Board of Porsche Sales and Marketing, describes the delights of buying tokens.

Vice Chairman and Member of the ExecutivePorsche Finance and Information Technology Council Lutz Meschke says the company is also looking to incorporate blockchain technology into its business operations and has an interest in Web3 and the Metaverse. Now the automaker is exploring the possibility of using blockchain in the procurement and management of car supply chains.

In 2018, Porsche announced its readiness to increaseinvestments in blockchain startups. In the same year, the automaker received a $170 million loan from the Spanish bank BBVA via blockchain.