Luxury Italian carmaker Alfa Romeo will release an electric vehicle that comes with its own NFT certificate
Alfa Romeounveiled the 2023 Tonale on Tuesday — the first car with its own NFTdigital certificate.
- The NFT, based on
blockchaintechnology, will certify ownership on purchase and evolve during its life cycle.
- The NFT market has boomed recently and is expected to be worth more than $35 billion in 2022.
Italian luxury vehicle maker Alfa Romeo unveiled the world's first car that comes with its own non-fungible token on Tuesday.
The "Tonale", an electric hybrid car, will be the first ever to be equipped with the blockchain-based technology in the form of a digital certificate of ownership.
The certificate will be uniquely linked and will certify the car at purchase, evolving to represent its use during the car's lifecycle, Alfa Romeo parent Stellantis said.
"Based on blockchain technology, the NFT can register vehicle data to generate a confidential and non-corruptible record of the vehicle's life," the luxury carmaker's website stated.
Alfa Romeo said this will give a further source of credibility to owners and dealers to rely on and will further protect residual value.
"2023 Alfa Romeo Tonale is the most technologically advanced Alfa Romeo ever offered," parent Stellantis said.
The NFT market has seen a surge in interest and investment over the past year. It is expected to be worth over $35 billion in 2022 and over $80 billion in 2025, according to research by Jeffries as reported by CoinDesk. NFTs are unique digital tokens that represent an asset, such as a piece of audio, video or even artwork and virtual real-estate.
"Tonale is a fully connected car equipped with the most advanced technology, software and interface," Silvia Cravero, Alfa Romeo's head of info connectivity validation, said.
The vehicle will also have plug-in hybrid
- A top AI researcher reportedly left Google for OpenAI after sharing concerns the company was training Bard on ChatGPT data
- An AI researcher who has been warning about the technology for over 20 years says we should 'shut it all down,' and issue an 'indefinite and worldwide' ban
- What is an indictment? What it means for someone to be indicted by a grand jury and why Trump was charged
- India reports 3,824 new Covid cases
- 77% of young Indians now spend the most on phones, apparels
- Global Pharma recalls 50,000 tubes of contaminated eye drops in US: USFDA
- Former India cricketer Salim Durani passes away aged 88; PM Narendra Modi, Ravi Shastri lead tributes
- India successfully achieves autonomous landing of Space vehicle