By diversifying into the digital asset marketplace, Porsche hopes to leverage on the NFT craze and the traditional demand for trading cards to gain engagement-powered income soon.
German carmaker Porsche has decided to dabble into the digital assets market. The brand launched Fanzone as an NFT-based trading card platform. Using the platform, users can purchase and sell NFTs. Forward31, a digital partner for non-core markets designed the platform. With Fanzone, users can purchase, sell and even use their soccer trading cards for gaming. The card details traits and characteristics of different players. To launch its NFT platform, Porsche partnered with the National Soccer Selection, Germany to showcase some of their players. As a result, the first set of cards shows representativeness; featuring players from the men’s, women’s and even under 21 teams of the country.
These digital assets are featured on the Lukso blockchain and can be extracted and secured elsewhere by those interested.
Speaking about the cards, the Head of Building at Porsche Digital made it known that there had been decades-long demand for classic trading cards.
“With Fanzone, we are now digitizing this promising market. We look forward to strategically supporting Fanzone,” he said.
By diversifying into the digital asset marketplace, Porsche hopes to leverage on the NFT craze and the traditional demand for trading cards to gain engagement-powered income soon.
But What about Declining NFT Prices?
While NFTs took the world by storm in March, the drive seems to have let off steam. In recent weeks, the market indicators have suggested a decline. Prices dropped from a peak of $176 million on May 9, to just $8.7 million on June 15, based on data from Nonfungible. We can interpret this to mean the NFT craze is dwindling.
On a closer look, however, one will realise the marketplace is really just maturing. Amateurish artworks are giving room for more high-quality platforms. Bigger brands are looking to take advantage of the digital assets which have been touted to be the future of immersive virtual experiences. Major assets are still being converted into tokens. There has been diversification into music, real estate, and now sport-based platforms coming on board.
These major platforms are now incorporating NFTs as a core component of their functionality and services delivery. Along the same line, the Argentinian Soccer Selection launched its own token recently in partnership with Socios.com and sold more than 600K tokens in its initial offering.
Prices may be dwindling currently but a bounce-back does not seem far off.