Luxury carmaker Porsche auctions unique NFT design sketch

Luxury carmaker

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TL;DR Breakdown

  • Luxury carmaker to auction unique NFT design sketch.
  • Porsche CEO says it’s onboarding younger customers with NFTs.

The non-fungible tokens (NFTs) market grew incredibly this year and doesn’t seem to be letting up as luxury carmaker Porsche joins other international organizations in various sectors of the economy to unveil its NFT.

The German luxury carmaker which recently launched a token-based fan zone program announced that it will roll out exclusive design sketches as part of its first NFTs scheme.

According to the announcement, buyers and fans will be able to bid for the unique design sketch from August 2-5. The proceed from the auction according to the luxury carmaker will be used for providing clean water in needed parts of the world.

Notably, Peter Varga, Porsche Director of Exterior Design will be making the sketch that will be auctioned and according to the 42-year-old designer the new initiative is a completely new experience for him and he was delighted to be performing it.

Varga further noted that the sketch will comprise of a combination of the Taycan Cross Turismo with the 911. According to him, the sketch will incorporate the design language of Porsche’s iconic sports car with that of the youngest member of the model range.

Notably, popular digital art market on Ethereum, SuperRare will oversee the auction of the sketch and the winner of the luxury carmaker auction will get the drawing in both digital and physical form.

SuperRare according to the statement will donate the proceed from the auction to Viva con Agua, a non-profit organization (NGO) helping to secure global access to clean drinking water, sanitation and hygiene.

Luxury carmaker using NFTs to attract younger customers

Meanwhile, Alexander Pollich, the chief executive of Porsche Deutschland has expressed his excitement with the new NFTs initiative. He explained that the NFTs program will bring younger customers to the luxury carmaker fold.

Pollich, noted that in addition to onboarding new younger clients, the NFT move would focus on Porsche customers which he described as passionate collectors. He explained that the NFT initiative is in line with Porsche’s vision.

Notably, the NFT project is being implemented with the help of Fanzone, a startup based in Germany and was founded in June by the luxury carmaker’s Porsche Digital GmbH subsidiary.

Nonetheless, it is important to note that NFTs market continues to grow remarkably. It rallied to new highs in the second quarter of this year, with $2.5 billion in sales which is up from just $13.7m in the first half of 2020, marketplace data showed.

Also, according to NonFungible, a platform that aggregates NFT transactions on the Ethereum blockchain, buyers have mostly totaled 10,000 to 20,000 per week since March, outnumbering sellers.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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