To track car records, the new Alfa Romeo SUV combines NFT and blockchain

Tonale NFT is an Alfa Romeo system that certifies an automobile at purchase and then records and stores data throughout the vehicle’s lifetime.

The Tonale SUV, the latest vehicle from Alfa Romeo, has been presented. The company promises to be the first in the industry to link each vehicle to a blockchain-based token that can track the vehicle’s entire life cycle.

The fact that each car is linked to an accompanying NFT is one of the SUV’s most distinguishing features. According to Alfa Romeo, the Tonale NFT certifies an automobile at purchase and then merely records and stores data throughout the vehicle’s lifetime. Alfa’s head of global marketing and communication, Francesco Calcara, said:

“With the customer’s permission, the NFT will capture vehicle data and generate a certificate that may be used as a guarantee of the car’s overall condition, potentially increasing its residual value.”

Automobile manufacturers are rapidly engaging in the NFT industry, which is expected to reach $240 billion by the end of the decade, by minting one-of-a-kind collectible digital tokens that are occasionally included with vehicle purchases.

Everything from real estate agreements to sports fan engagement tokens is now being tied to blockchain. Businesses are racing to get on board with nonfungible tokens (NFTs), which have recently made news.

NFTs have been tested by several luxury car manufacturers, including Lamborghini, Rolls-Royce, and Mercedes-Benz. Lamborghini, for example, debuted its first NFT project, “Space-Time Memory,” which consists of five photographs depicting a Lamborghini Ultimae travelling through space.

Mercedes-Benz and Art2People have collaborated to create a limited-edition Mercedes-Benz NFT collection inspired by its G-Class car portfolio.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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