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The infrastructure of FT technology continues to extend far beyond the art realm, with SUVs and sports cars being the latest blockchain adoptions.
Italy's iconic luxury car manufacturer Alfa Romeo has confirmed that it will use irreplaceable tokens to monitor and store maintenance records of its new Tonale sport utility vehicle on the blockchain.
Tonale, Alfa Remeo's "first SUV on the market," will be loaded with an NFT digital certificate, which the company claims will increase the "residual value" of the vehicle. NFTs are irreplaceable digital assets that are verified and stored using blockchain technology, making it difficult or impossible to change, hack, or bypass systems.
So? You might think "blockchain" is the hottest marketing slogan of the year. Thanks to the massive multimillion-dollar ads from Binance, Coinbase Global, and FTX, the upcoming Super Bowl has been dubbed the "Crypto Bowl" by some media outlets.
However, some implementations of cryptocurrencies are more likely than others to disrupt the status quo. On the other hand, Alfa Romeo's NFT advances are unique in that they enable practical applications of automation.
How does this latest little invention work? According to Francesco Calcara, Alfa Romeo's head of global marketing and communications, Tonale NFT's ledger collects data from the SUV's electronic console and encrypts all the data on the blockchain.
Alfa Romeo appears to be the first automaker to use NFTs in this way, ostensibly to improve efficiency and transparency in the automotive market, which often relies on third parties to keep labels for vehicle records.
The Tonale can be used as a gasoline-powered car or plug-in hybrid. Its "world premiere" comes as Stellantis' company (Stellantis' predecessor Fiat Chrysler) begins to push aggressively into its all-electric lineup through 2027.
Alfa Romeo's car sales have been fraught in recent years, with fewer than 19,000 units sold each year for the past three years.
By comparison, BMW sold about 93,000 cars in the U.S. in the fourth quarter of last year. Mercedes-Benz, on the other hand, sold just over 60,000 units in the fourth quarter of last year.
Tonale will begin accepting bookings in the fourth quarter of 2022, with the first batch expected to be delivered in the first quarter of the following year.
At the same time, other luxury car brands such as Mercedes-Benz, Rolls-Royce and Lamborghini have also experimented with NFTs of their own. For example, Lamborghini recently launched its first NFT project called "Space-Time Memory," which contains five images depicting Lamborghini's Ultimae Roadster going into space.
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