The subject of NFTs has turned out to be a great revolution in the global economy terms of the way of seeing works of art or traditional assets; despite being very fashionable, it is essential to know in depth the concept that surrounds these three letters and that even the date has generated millions of dollars to many.
Owning a digital asset in the form of NFT can be compared to having an audiovisual resource, be it an image, video, or audio, which has original information that identifies its creator, all the data that said element has is stored in the cloud of public form. From there, they are usually auctioned as works of digital art.
Use of NFTs in the automotive sector
Non-fungible tokens have been covering more and more spaces not only at the level of finance and future investments but also in the fashion and entertainment sector, where the corporate image of many large companies is becoming digital art in the form of NFT.
Many of these works have been auctioned and sold for millions of dollars, as mentioned above, which is a point in favor of the digital market; many times, these funds usually go directly to the creators, but also other times, they are typically used for charitable works.
It was expected that the automotive industry would be impacted by this new wave of digital elements representing the fusion of technology with one of the sectors that move the most money worldwide.
On this occasion, the company that joins this challenge of digital works has been Alfa Romeo, which has linked its latest vehicle with NFT technology, providing it with a digital certificate.
This modality is applied from the perspective of using blockchain technology through which a kind of life card is created for this specific vehicle called Tonale.
With this technology, it will be possible to automatically and confidentially carry all the information regarding the vehicle and its various stages, for example, from the moment a specific user acquires a car of the brand with the same consent certificate.
This certificate could influence the vehicle’s valuation if a sale is desired in the Future. But, on the other hand, a guarantee of the general condition in which the car has been sold is given, which cannot be modified.
It could be considered a tool that, when acquiring a car, generates confidence and security not only at the time of purchase but also in the Future if any inconvenience arises with it as a way to support an investment that commits a considerable amount of money.
NFT version is more expensive than an actual vehicle
For many, the idea of the NFT market seems absurd; no one expects its positioning in the digital market, a business model that has been quite successful and has gone from highly speculative investment to a new way of generating millionaire income.
The platforms that currently serve as a showcase for this type of financial instrument have demonstrated the ability of NFTs to appreciate in a short time.
This time the analysis focuses on the fact that non-fungible tokens are reaching much higher prices than the identical vehicles sold in automotive agencies; how can an image have a higher cost than the same car?
The answer is simple exclusivity, although in this case, it seems that virtual reality could surpass real life, where the simple fact of owning an original digital work that represents a particular physical element that just by holding it could double or quadruple its value.
Conclusion
Many followers of this type of investment tend to infer that it is a market that is just beginning to spread its wings and that it will possibly take many by surprise, as happened with the cryptocurrency market.
To get a general idea of how this market is currently focused, there is a set of NFTs that have been created and that today multiply the value of some classic models.
The NFT version of a Nissan GT-R has been sold for as little as $2 million. However, the company that assembles them represents more than ten times the value of the physical car.
If we move to classic cars, we find the digital version of that DeLorean DMC-12 model from the movie success Back to the Future, where its value in the form of NFT exceeds 180 thousand dollars, unlike acquiring it on request, which is around $50,000. Enter the Bitcoin-Prime trading system for more interesting facts
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