Alfa Romeo Takes Blockchain and NFTs to a New Level

Just last month, formula 1 and NFTs reunited for another McLaren F1 NFT drop. As one of the major F1 teams and 2^nd oldest behind Ferrari, the team had entered F1 back in 1966.

In the 2022 NFT drop, McLaren racing fans could procure digital components of the new F1 car, build a car, or trade parts across the McLaren NFT network.

McLaren is not the only car manufacturer that has tested the NFT waters, however.

Autos and the NFT Marketplace

While formula 1 and NFTs have been in collaboration for some time, car manufacturers have also been hard at work, embracing the virtual world.

Last week, Binance announced that Ferrari is taking a serious look at NFTs, the Metaverse, and blockchain technology.

The luxury car manufacturer’s CEO, Benedetto Vigna, had spoken of the company’s eagerness to adopt new tech back in its Q4 2021 earnings call. According to the news, Ferrari had set up a dedicated digital tech department within its retail unit.

Supercar manufacturer Lamborghini has also dedicated time and resources to NFTs and the Metaverse.

At the start of the month, Lamborghini opened the auction for Space Time Memory, its first NFT. 5 pairs of physical and digital artworks were up for sale between 1^st and 4^th February.

By contrast to the likes of Ferrari and Lamborghini, however, Alfa Romeo has adopted NFTs and blockchain tech in a very different way.

Alfa Romeo Takes NFTs One Step Further

Owned by Stellantis (CAC40), Alfa Romeo is looking to deliver transparency on a whole new level. Historically, the auto sector has relied on 3^rd parties to track and maintain car records.

Alfa Romeo is bringing its “in-house”, with its new Tonale SUV. The Italian car manufacturer announced that “the Tonale is the first car on the market equipped with an NFT digital certificate.”

Alfa Romeo added that, based on the “blockchain card” concept, there will be a confidential and non-fungible “record of the main stages in the life of an individual vehicle”.

The car manufacturer sees the digital certificate delivering increased credibility for sellers. For buyers, it would also be an additional source of comfort in the 2^nd hand market.

Alfa Romeo’s digital certificate will likely push other car manufacturers to follow suit, which would be another win for NFTs.