Chevrolet announced its plans to auction a Corvette NFT. Aside from receiving the NFT itself, the winning bidder also gets to take home an actual sports car inspired by the artwork!
What Are The Details of Chevrolet’s Corvette NFT Auction?
Artist Nick Sullo, who goes by xsullo online, created the Chevrolet NFT. The artwork depicts a lime green Corvette Z06 blasting through a cyberpunk landscape. During the auction, it is paired with a real custom-painted 2023 Corvette Z06 with a color matching Sullo’s art.
The new Z06 is Chevy is the first ‘Vette to feature a naturally aspirated 5.5-liter V-8 mid-engine, located directly behind the driver. Moreover, it’s a more hardcore, tack-focused sports car than its predecessors. Furthermore, it will be the only car painted in Minted Green color as Chevy vows not to apply the color to other Z06s.
The winning bidder will ultimately receive both Sullo’s NFT and the “Minted Green” Corvette. The auction will be on SuperRare between June 20–24. According to Chevy, they will donate all the proceeds to an education charity, DonorsChoose.
The NFT auction comes at a difficult time because of the state of the cryptocurrency at the moment. However, Chevy doesn’t seem affected by the market fluctuations. According to Steve Majoros, vice president of marketing of Chevrolet, their “Own the Color” NFT is an “important stepping stone for Chevrolet into future digital initiatives for our customers.”
Car Companies Enter Web3
Chevy isn’t the only automaker on the Web3. In fact, Hyundai, Lamborghini, and McLaren have created their NFTs. Nissan and Toyota have also made preparations to enter the metaverse. All these car companies dabbling into NFTs certainly prove the benefits of the emerging technology to both brands and consumers.