December 5, 2022
By Anjali Kochhar
Germany luxury and sports company Porsche has become the latest automobile manufacturer to join the non-fungible token (NFT) art market. The company displays a gallery of digital photographs using the 911 at Art Basel in Miami, Florida.
A large sculpture by Chris Labrooy portraying a big racing car driver playing with a genuine Porsche 911 like it’s a toy is also part of Porsche’s Art Basel display.
The artwork is meant to inspire recollections of playing with little automobiles as a youngster. From November 29 to December 3, the artwork will be on exhibit at the Pérez Art Museum, Miami.
Prospective consumers will have access to a total of 7,500 distinct digital collections beginning in January 2023. As is customary in the Web3 environment, it is feasible to pre-register on an Allowlist. The number of NFTs that may be purchased is restricted to three per individual.
In an official release, Deputy Chairman and Member of the Executive Board for Finance and IT, stated, “This initiative is an extension of our digitalization plan. We’ve made a long-term commitment, and our Web3 team has the freedom to pursue breakthroughs in this area as well. Porsche’s innovation management sees possibilities in the purchase experience, the metaverse, and the supply chain. Vehicle and environmental concerns are also being addressed”.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.