Chevrolet, always on the forefront of cultural consciousness, is auctioning a non-fungible token of its upcoming 2023 Corvette z06. Oh, and the winner of the NFT also gets an actual, drivable real-world version of the car.
The new Z06 does look rad as hell, and the art is no exception. But why not just... auction off the car and then include the fancy .jpeg file in the delivery? I’m just a simple country blogger, but it seems to me that a real life vehicle with a 5.5L, 670 hp, naturally-aspirated V8 would be the thing worth anything in this exchange.
The NFT from the artist xsullo features the Z06 in the same “Minted Green” as the real car. Indeed, Chevy has dubbed the upcoming auction as the “Own the Color” auction and promises it won’t use this shade of green on “another production 2023 Corvette Z06.” So a production 2024 Corvette Z06? Fair game. The car also comes with a plaque, the Z07 performance package, and carbon fiber wheels. The vin number is in binary as well, using a programming code in use since the ’40s for that extra futuristic feel.
A cool shade of green on a cool car is about the most we could hope for in all this silliness. NFTs are doing about as well as their fellow digital currency scam, the various Coins. Which is to say, they aren’t doing very well, but that doesn’t bother Chevrolet. From the Verge:
The NFT auction comes at a time of extreme volatility in cryptocurrency. Prices are plummeting, along with NFT values. Ethereum has dropped 64 percent since April 1st, while the most lauded NFTs have seen their floor price — price for the lowest one on the market — drop more than 70 percent. In response, some cryptocurrency firms are scaling back; Coinbase announced it was laying off 18 percent of its workforce.
There has also been a rise in scams, with some buyers falling for phishing attempts to rip off their NFTs. And thanks to the decentralized nature of the blockchain and Web3, victims are left with little recourse in such situations.
But Chevy doesn’t seem dissuaded by the market fluctuations. In a statement, Steve Majoros, vice president of marketing at the automaker, called the “Own the Color” NFT an “important stepping stone for Chevrolet into future digital initiatives for our customers.”
For his part, xsullo says he was drawn to the project by the Z06. “The Corvette Z06 is an ambitious car that I totally vibe with,” he said. “I’m drawn to how technology can make us feel, and I can tell the designers of Corvette Z06 draw from similar inspiration.”
The auction will happen on the NFT trading site SuperRare between June 20 and June 24 and bids will only be accepted in Ethereum coins. Chevy won’t hold on to the coins though, as all proceeds will be donated to the educational non-profit DonorsChoose.