December 21, 2022
By Anjali Kochhar
German luxury car manufacturing brand Porsche has implied it will be significantly ramping up its Web3 efforts after unveiling an upcoming nonfungible token (NFT) project consisting of 7,500 customizable tokenized vehicles.
It should be recalled that in a Nov. 29 announcement, Porsche stated that the NFTs will be launched in January, and users will be able to customize various aspects of the cars in relation to performance and appearance.
The NFT art itself is being designed by designer and 3D artist Patrick Vogel, with all pieces revolving around the famous Porsche 911 model.
Notably, these virtual assets will be designed in Epic Games’ Unreal Engine 5, suggesting that gaming integrations are afoot.
The company gave a sneak peek into the project at the Art Basel conference in Miami on Nov. 30.
Broadly, Porsche suggested that it is looking to significantly ramp up its exposure to Web3 moving forward, with the announcement noting that:
“Digital art is just one aspect of Porsche’s Web3 strategy. The sports car manufacturer is working to integrate the potential of blockchain technology into existing and future processes and solutions.”
Porsche previously had a hand in launching soccer-themed NFT collectables in June 2021 as part of a project called Fanzone, but now appears to be taking the tokenization of its cars more seriously.
Speaking of German luxury car manufacturers, BMW has reportedly applied to trademark its logo in relation to a host of Web3 products and services.
The move was highlighted by USPTO licensed trademark attorney Mike Kondoudis, who frequently shares news regarding Web3 trademark applications in the United States from major companies.
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.