By
Chimamanda U. Martha
April 17th, 2024
Although this is the first foray of Mercedes into NFTs, this is not the first time the company will be exploring blockchain technology.
Non-fungible tokens (NFTs) seem to be making their way into every major brand, including luxury vehicles company Mercedes. The company has sought the service of 5 Art2People artists in the NFT industry in celebration of its G-Class vehicle line. Mercedes revealed its plans to develop its G-Class-based NFTs collection as several companies globally attempt to explore the virtual world. On the 17th of January, Mercedes wrote in a tweet:
“What happens when five #NFT artists take on the challenge of interpreting the iconic [G-Class]?
The automaker also added a video, replacing “NFT” with “NF-G”, referring to its G-Class. The video also highlighted the names of the five NFT artists curated to create unique works. They are Baugasm, Klarens Malluta, Charlotte Taylor and Anthony Authie, Antoni Tudisco, and Roger Kilimanjaro. Interestingly, these artists are from different fields such as fashion, music, architecture, real estate, and graphic design.
Mercedes to Rollout Its G-Class Based NFTs on Nifty Gateway
In partnership with NFT auction platform Nifty gateway, Mercedes will be dropping the NFTs on the 23rd of January. The digital arts will be available by 6 p.m. EST, and it will last for about one hour. The NFTs will include pieces in different price categories, ranging between $222 and $1,554. When Mercedes makes $1 million in collective sales from the NFTs, the company will offer a raffle. All the NFT holders will have access to the G-Class raffle by the luxury automobile company. Furthermore, when collective sales on the NFTs hit $2 million, there would be another raffle for all Mercedes NFT holders.
To make the digital works more accessible, the Mercedes G-Class-based NFTs can be purchased by people who own their own cryptocurrency. After setting up their Nifty Gateway accounts, interested persons may just buy them with their credit cards.
Although this is the first foray of Mercedes into NFTs, this is not the first time the company will be exploring blockchain technology. In 2020, the company partnered with blockchain startup Circulor to roll out a blockchain pilot to bring transparency in carbon emission in the cobalt supply chain.
NFTs Frenzy Continues
Recently, Walmart (NYSE: WMT) is planning to debut into the metaverse space. The retailer intends to develop its own crypto-assets and also collect NFTs. Similarly, Nike (NYSE: NKE), Instagram, and Disney are also among the growing list of companies interested in the metaverse.
Ahead of Mercedes’ move into the NFTs space, McLaren has revealed its plans on non-fungible tokens. In June 2021, McLaren said it would use NFTs to create virtual versions of its legendary F1 automobiles.
“McLaren Racing digital collectibles are coming! Introducing McLaren Racing Collective, a global community of McLaren fans and collectors, and the place to buy McLaren Racing digital collectibles in the form of NFTs on the Tezos blockchain.”
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