An Italian Automobile company disclosed a fascinating use case of blockchain technology. Alfa Romeo integrated its latest vehicle Tonale SUV with the blockchain-based token to keep track of its entire lifespan.
Every SUV that sells will be connected to non-fungible tokens (NFTs) named Tonale NFT. The NFT certification will be issued during the purchase of the vehicle and it will track and record every data of the vehicle in the entire span of the vehicle.
Francesco Calcara, head of global marketing and communication at Alfa Romeo, said: “Upon customer’s consent, the NFT will record vehicle data, generating a certificate that can be used as a guarantee of the car’s overall status, with a positive impact on its residual value.”
After observing the potential benefits of blockchain and NFT technology, many intellectuals believe that this investment can be touched by $240 billion by 2030.
Recently, many giant car makers including Lamborghini, Rolls-Royce, and Mercedes-Benz have made collaboration with NFT marketplaces to launch their NFTs featured with iconic symbols and vehicles.
Lamborghini recently revealed an NFT collection of 5 NFTs “Space Key” that also holds a physical form made from “space” carbon fiber.
