Chevy’s first foray into non-fungible tokens was a non-fungible unexploded ordnance. Automakers zeroed their first NFT bid at last month’s auction. The digital drawings came with a free 2023 Corvette Z06, Corvette blogger..
The NFT depicting the lime green Corvette Z06 that blows up the cyberpunk landscape was created by artist Nick Sullo, who uses the xsulloonline. The winning bidder will also receive the unique “Mint Green” Corvette Z06, the only car painted in that color, and the option code RFN, which “permanently associates” the car with the NFT auction. Also, because NFTs are digital and computers use binary numbers, the Corvette’s VIN number will be binary.
But unfortunately, there was no winner to return to the blockchain because of the powerful Chevrolet attack. Automakers only accepted bids on Ethereum (most NFTs are purchased using Ethereum). Its price has been very fluctuating in recent weeks. Cryptocurrencies have fallen by more than 64% since April 1, but the most admired NFTs have fallen by more than 70% in their lowest rates (the lowest prices on the market).
The auction was held from June 20th to 24th. Super Rare, the NFT marketplace that oversaw the auction, Tweeted on June 24th Resuming bidding 24 hours a day because some users “missed” the window. But apparently it didn’t work. The auction ended again without a bid.Basically, they pulled Morbius..
Chevy spokesman Trevor Thompkins fought disappointment with the following statement: Corvette blogger. “The first step to Web3 was educational. We will continue to look for ways to leverage technology to benefit our customers,” said Thompkins.
Of course, the real loser of this story is not Chevy. This will definitely go beyond a little old and a little wise experience with Web3 volatility. The real loser is Donors Choose, an educational charity designated by Chevy as the beneficiary of the auction.
This can serve as a warning to other automakers who want to step into the NFT Marketplace. Please swim at your own risk.