Bentley Motors, a British luxury automobile manufacturer, has announced that it would introduce a collection of non-fungible tokens (NFTs) on the Ethereum scaling platform Polygon.
The release of the NFT collection is slated for September 2022 and is restricted to 208 NFTs. The number denotes the top speed of the Continental GT Speed, Bentley’s quickest Grand Tourer. It also represents the quantity of the 1952 R-Type Continental.
Bentley Design is responsible for the creation of the genesis NFT collection, and collectors who purchase the NFTs will have access to unique incentives, the details of which have not been disclosed.
Bentley also promised that revenues from the sale of the NFT will be used to help students interested in engineering, manufacturing, and design. In addition, monies will be utilised to help groups working towards sustainability, particularly in the transportation sector.
The carbon neutrality of the Polygon network was a significant factor in Bentley’s decision to distribute its first collection on the blockchain. Bentley aims to achieve carbon neutrality by 2030.
The price of the NFTs has not yet been published; but, given the rarity of the collection and Bentley’s exceptional reputation, the NFTs might command a hefty price.
Also Read, Chevy auctions off corvette NFT
Luxury Automobile Companies Adopt Web3
The automotive industry has realised that Web3 and NFT technologies may assist them in reaching new consumers, selling digital assets, and providing unique digital experiences in the metaverse.
Lamborghini, a prominent Italian luxury automobile manufacturer, has even auctioned off non-fungible tokens tied with actual automobiles. Lamborghini recently sold an NFT that included a vintage Aventador LP 780-4 Ultimate Coupé. Indeed, the NFT’s usefulness in the real world was an actual automobile.
In addition, one of Lamborghini’s most formidable rivals, Bugatti, offered a 1:1 NFT with a gold sculpture of the La Voiture Noire hypercar made by London jeweller Asprey.
It is uncertain if Bentley and other luxury automobile manufacturers will be successful with their NFT and Web3 initiatives. However, the investment of time, effort, and money by credible, household-name businesses in these emerging technologies seem to be another success for the NFT sector.
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NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.
Conduct thorough research before you start with NFT trading.