Alfa Romeo depleted its NFT’s in 8 seconds
Alfa Romeo has set a milestone by being the first car brand to associate an NFT with one of its vehicles. In fact, such has been the impact of this new proposal on the digital crypto ecosystem that the second release of the team’s non-fungible tokens through Socios.com, sold out in just 8 seconds.
This second stage of the release was scheduled for Monday, April 25, ratifying that the Alfa Romeo F1 Team Orlen NFT have arrived to become another success for the kings of F1.
Alfa Romeo F1 Team Orlen NFT, the new attraction for F1 lovers
Everybody is talking about the NFTs; they are currently a subject with high media notoriety, which refuses to talk about a technology that, for many, is the future; for others, the recipe for pyramid scams or Ponzi schemes. But NFTs and, above all, the technology that supports them, can have applications that are as surprising as they are beneficial for the automobile industry and for cars in general.
As a result, one of the most and best viewed features of the above-mentioned Alfa Romeo Tonale (a hybrid of 130 and 160 hp), is possibly its NFT. An NFT is a non-fungible digital token, a certified digital asset using Blockchain technology. A revolutionary technology that is here to stay and that marks the future of the Italian brand and the rest of the manufacturers and brands.
The popularization of this NFT is considered a great change for the sector, since it would be very useful and would be consolidated as an extra guarantee in the event of the following sale of the vehicle. But, what is it that allows this type of technology in cars and what are we going to benefit from?
According to Alfa Romeo, each of the Tonale model cars, in this case, will be associated with an NFT, and “the technology based on the concept of a blockchain card, with a confidential and non-modifiable record of the main stages of life of a single vehicle.
“With the customer’s consent, the NFT will record the vehicle’s data, generating a certificate that can be used as assurance that the car has received adequate maintenance, with a positive impact on its residual value,” adds the company. This means that every time the car goes through the workshop, has an accident, is repaired or goes through the ITV, it will be registered. In addition, it would also allow a more objective and accurate appraisal of the vehicle.
As this information is protected by the blockchain, it can be considered as a kind of DNI or passport of the vehicle, which records its trajectory and confirms to the state in which it is. This will increase the residual value of cars on the used market. The seller will be able to display that greater guarantee and the buyers will make sure that the history has not been falsified.
NFT Alfa Romeo brings extra credibility
In the second-hand car market, the NFT certification is an extra that provides credibility and that owners or sellers can count on. We are already facing more and more concrete applications that show us how the technology that is behind everything that surrounds us, also with regard to our own vehicle, and of what is now being done because this NFT technology can be demonstrated, in the better way, in today’s car world, but above all for the future.
As is known, the presentation of this NFT has been distributed in four events spread throughout the entire calendar of the 2022 F1 World Cup, so we still have to see how the public reception will continue to be so far. It is quite interested in this attractive investment proposal. For more information about this project visit the official website.