Italian car manufacturing company, Alfa Romeo is launching a new SUV, Tonale. The new vehicle will be using NFT and blockchain for its operations as first reported by CNBC.
The non-fungible token (NFT) and blockchain will enable the car to be tracked at anytime and anywhere. It will keep a detailed record of the SUV’s data and also issue a certificate that indicates if the vehicle has been properly maintained or not. Also, to record the data of the Tonale, the car must be maintained by a certified Alfa Romeo dealer. However, these data can only be recorded with the consent of the owners of the vehicle.
On the website developed for the new vehicle, it was said that “thanks to IT next-generation software architecture, the Tonale offers a full set of technological innovations. It’s the first car ever to adopt an NFT blockchain certification,” a statement that verifies that the new automobile is to become the first car to use NFT and crypto.
Further as to why the automobile company, which was formerly addressed as Fiat Chrysler incorporated the token and blockchain in the new sports car, the head of marketing and communication, Francesco Calcara said “Digitalization is a key enabler of our metamorphosis. Tonale is the first car ever to keep a blockchain, non-fungible token. NFTs are based on the same distributed information logic that protects your Bitcoin.”
The car is not yet on the market, it will be on sale from April 2022. As announced on the company’s website.
Businesses are racing to get on board with non-fungible tokens (NFTs), which have recently made the news. In a business report in November last year, a research team led by Morgan Stanley, a global leader in finance suggested that “NFTs could grow to a roughly $240 billion market by 2030, with digital collectibles from luxury brands making up 8% of the space by that time”.
From music to website development, to gaming, to real estate to sports, and now to automobiles, NFTs have become an inevitable asset to everything in the digital space and also to investors.