Rolls Royce’s unique Phantom Series includes charitable NFTs – Ledger Insights

by AryanArtnews
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Rolls Royce’s unique Phantom Series includes charitable NFTs – Ledger Insights

British luxury car manufacturer Rolls Royce has a NFT series related to six new Phantom Series cars. The company teamed up with artist Sacha Jafri for this venture: the interiors of each car include unique hand-painted artwork by the artist representing one of six elements – Earth, Water, Fire, Wind, Air and Humanity.

The Six Elements project started in 2020 and the cars were unveiled last month. The NFTs are sold with the car, and the owner can sell the NFT independently of the car. The royalties collected from trading the NFT are stored in a digital wallet to raise funds for charity. In its latest announcement in December 2022, the company said it had already surpassed its goal of raising more than $1 million for charity.

“I am delighted with the success of this project. We and our dealer partners in Dubai and Abu Dhabi have embarked on an amazing journey with a specific goal, which I am delighted to have not only achieved but surpassed,” said César Habib, Regional Director, Rolls-Royce Motor Cars , Middle East & Africa, referring to the cars sold to customers in the Dubai and wider Middle East region.

Other luxury car companies have pursued similar collaborations with artists to create NFTs. In January 2022, Lamborghini launched an NFT collection featuring a set of digital space keys modeled on a carbon fiber assembly sent to the International Space Station. McLaren has partnered with InfiniteWorld to launch NFTs based on McLaren’s luxury cars. And BMW announced a metaverse-inspired concept car, with digital windshield displays that project a virtual world.

The Volkswagen Group has invested in its digital strategy, with its investment reflected in its brands Porsche, Audi and Skoda. Audi introduced fractional NFTs, which sell parts of a single artwork. Volkswagen’s South African subsidiary also launched NFTs through OpenSea, as part of an advertising campaign for the new Polo car. Most recently in November 2022, Porsche announced its first official marketplace for NFTs, which would feature 7,500 custom pieces of art from the Porsche 911 model. Porsche also incubates mobility technology startups. Launched Forward31, a company started by Porsche Digital Fan zone in 2021, a platform for digital trading cards using blockchain technology.

With the metaverse projected to have an impact from $5 trillion by 2030, various sectors seek value in the metaverse. The initiatives listed indicate that the automotive industry is creating unique virtual experiences for deeper digital engagement of their projects. As a result, executive reports indicate that the automotive industry is among the leaders in current metaverse adoption. Seventeen percent of the sector plans to invest a significant portion of their digital budgets in the metaverse.


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