The latest model from Alfa Romeo, the Tonale SUV, will give owners a chance to dabble in NFTs.
NFT Bug Bites Alfa Romeo
The NFT craze keeps spreading. The Italian automobiles company Alfa Romeo is the latest major brand to adapt NFTs into their latest model. The brand recently unveiled the Tonale SUV, a crossover model that will be launched in the US in the first quarter of 2023, in a few different powertrain options. One of these models will be the brand’s first-ever plug-in electric hybrid. However, gauging the current blockchain-mad climate, the most exciting feature of the Tonale will be the NFT included in the sale. Regarding the NFT, the brand has revealed,
“[It will be] a confidential and non-modifiable record of the main stages in the life of an individual vehicle…with the customer’s consent, the NFT will record vehicle data, generating a certificate that can be used to assure the car has been properly maintained.”
However, the Italian automaker has not disclosed the name of the blockchain that will be used to mint these NFTs.
This means that the NFT will be used to keep track of servicing records and accident history on the blockchain. In the Tonale announcement, the company also stated that the vehicle data recorded on the NFT would also help generate a certificate proving that the car has been maintained properly, adding to its resell value. The only caveat is that servicing needs to be conducted by a certified Alfa Romeo dealer to record the data correctly.
Attempts To Stabilize The Brand
NFTs or non-fungible tokens are irreplaceable digital assets that can be used to store data on the blockchain to make it tamperproof. These digital assets can be anything, including artwork, documents, graphics, photos, audio files, video clips, and so on. Nowadays, NFT technology has been infiltrating almost all industries, including art, movies, music, sports, and now cars.
Speaking on the upcoming launch, Francesco Calcara, head of marketing and communication at Alfa Romeo, said,
“Digitalization is a key enabler of our metamorphosis. Tonale is the first car ever to keep a blockchain, non-fungible token. NFTs are based on the same distributed information logic that protects your Bitcoin. It records all data on the blockchain.”
The head of operations across North America, Larry Dominique, has mentioned that the hybrid model is the company’s attempt to stabilize Alfa Romeo and to pivot to electrification. The adoption of NFT technology also indicates an inclination to keep the brand relevant in today’s blockchain climate.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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