The famous car producer DeLorean is making history with the first NFT-powered car reservation feature. Basically, those who want to buy the brand’s upcoming electric vehicle Alpha5 can mint an NFT from the dedicated marketplace – but are phygital NFTs the future of the automobile industry?
How Does the New DeLorean Car NFT Reservation System Work?
This year, DeLorean is one step closer to releasing its (already) popular electric coupe car, the Alpha5. Besides its impressive performance on the road, this vehicle brings another surprise: a unique NFT reservation system.
Together with the Web3 tech solution company NFT IQ, the two groups created the world’s first “EV Digital Twin.” In short, each DeLorean Alpha5 NFT vehicle is linked to a physical production slot of the car. These collectibles will also be available on a dedicated marketplace for all holders.
Accordingly, each holder can customize their vehicle six months before the real-life version is made. What’s more, the “ER Digital Twin” also serves as an in-game avatar and offers access to exclusive DeLorean events.
Want an Alpha5 too? Here’s the three-step reservation process:
- Get an Alpha Club Lifetime Membership ($88);
- Buy an EV Digital Twin NFT via the DeLorean exchange platform;
- Trade, keep, or sell your NFT on the dedicated marketplace.
At the time of writing, DeLorean didn’t reveal the price or the location for the production of Alpha5.
Are Hybrid NFTs on the Rise?
DeLorean’s “ER Digital Twin” NFT car reservation feature may be the first of its kind, but it’s definitely not the last. After all, we’ve seen the phygital NFTs niche skyrocket in popularity recently, with giant companies embracing the trend.
Phygital NFTs are, in short, NFTs tied to a physical object or experience. These digital assets can act as a certificate of authenticity, a collectible, or a Web3 representation of your goods in real life.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
