Porsche launched its first NFT

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Porsche AG, the German luxury automobile manufacturer has turned its icon 911, into a timeless virtual asset. The company’s first non-fungible token (NFT) collection was launched on Monday, for a price of 0,911 ETH roughly 1,430$.

Collectors could mint maximum 3 of the 7,500 customizable tokenized vehicles, in four waves. The second minting phase will allow holders to select one of three “paths”: performance, heritage, or lifestyle. The last phases “can unlock a variety of different design traits. Step by step, your 911 will turn into a truly iconic piece of art — one out of + 150k different variations,” as the official website reads.

Porsche announced end of November it will dabble into the Web3. “The NFT artworks enable us to take our understanding of modern luxury and the unique brand positioning of Porsche into the digital world,” said at the time, Detlev von Platen, a Porsche executive. Monday ahead of the minting, the company tweeted: “This project is, and always was, meant to be a community project — launched to deliver the best holders experience one could dream of. We‘re a brand to dream big, and we‘re strongly committed to make big dreams possible for you.”

According to data from OpenSea, as of Tuesday morning, only 1,361 NFTs, about 18% of the total collection have been minted. For creating the NFTs, Porsche kept it local as it teamed with the Hamburg based designer and 3D artist Patrick Vogel, whose “unique 3D artworks marry the virtual and the physical – with character and emotion, with timeless style.”

The car manufacturer stated in a press release that: ”Digital art is just one aspect of Porsche’s Web3 strategy. The sports car manufacturer is working to integrate the potential of blockchain technology into existing and future processes and solutions. The collaboration runs across multiple disciplines, and it is proceeding with the support of subsidiaries such as Porsche Digital and MHP, plus strategic business partners such as UP.Labs and nft now. Distribution is carried out by road2dreams GmbH, a new company founded by our partner Fanzone.”

Source: coindesk.com