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

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

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

Once the user purchases the NFT,the artist will begin 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-life events related to Porsche.

“NFTs will allow us to convey our understandingmodern luxury and the unique positioning of the Porsche brand, displaying this in the digital world,” Detlev von Platen, member of the executive board for sales and marketing at Porsche, describes the delights of purchasing tokens.

Vice Chairman and MemberLutz Meschke, Porsche's executive board of finance and information technology, says the company is also committed to integrating blockchain technology into its business operations and is also interested in Web3 and metaverses. The automaker is now exploring the possibility of using blockchain in procurement and automotive supply chain management.

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