DeLorean has released an on-chain reservation system and NFT marketplace for its upcoming electric vehicle, introducing a new blockchain-based way to reserve and resell vehicles.
According to DeLorean, its Build Slot NFT series allows holders to have priority access to purchase its upcoming Alpha 5 EV. This model is DeLorean's first new car in over 40 years, inspired by the iconic time machine from the movie (Back to the Future).
The company has created an exclusive marketplace for its NFT holders, where users can purchase or trade these NFTs using the USDC stablecoin on the Sui network and earn rewards.
DeLorean stated that the history and performance data of each vehicle will be recorded on-chain through the FLUX protocol, including key data such as battery health, maintenance records, accident history, and odometer readings.
This detailed data makes it easier for car enthusiasts to bid or resell vehicles in the secondary market.
DeLorean's Chief Brand Officer Cameron Wynne said, 'Since the 1980s, DeLorean has been a symbol of vision, rebellion, and future innovation. By using blockchain technology, we are setting new standards for the automotive industry.'
The NFT reservation system and the tokenization of electric vehicles indicate DeLorean's interest in digital assets. The company is also the first automaker to launch a utility token, $DMC.
Luxury brands explore blockchain and NFTs
NFTs are becoming digital passports for luxury goods, covering lifecycle rights such as reservations, maintenance, resale, and membership services.
By using NFTs for luxury goods tokenization, brands can enhance their technological appeal while reinforcing the awareness of scarcity and community value.
Global brand Louis Vuitton entered the NFT space in 2023, offering NFT holders exclusive access to certain products, such as a digital mini trunk valued at $6,400, a $9,000 bag, and a campus jacket worth approximately $8,400.
The LVMH Group has launched the AURA platform based on blockchain, where luxury goods are represented as unique NFTs containing information such as raw material sources, production dates, and maintenance history.
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