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Although it seems distant, this report has to start with cryptocurrencies.
There are several, although the best known is bitcoin, which was used in a transaction for the first time in 2009.
More and more entities and companies accept payments with them.
For example,
Tesla allows you to use dogecoin in its digital store to purchase clothing and accessories
worth up to $2,000.
And the flirtation he had with bitcoin is known.
In February 2021, his president, Elon Musk, said that he would pay for his car with him.
Later, he backtracked on the high environmental impact of cryptocurrency mining.
Elon Musk, Chairman and Founder of Tesla
The key is the blockchain
More specifically, cryptocurrencies are
digital assets used to pay for goods and services through electronic transactions.
But they have no physical backup;
they are not controlled by financial institutions and do not require intermediaries (particularly banks).
They do not need it because they are based on the
blockchain
, or chain of blocks.
It is a kind of encrypted ledger in the cloud
in which all transactions made with cryptocurrencies are entered.
This information cannot be deleted and, when it is updated, it is updated for everyone who participates in the network.
In this way,
the ownership of the acquired assets is ensured and they are prevented from being falsified or duplicated.
Alfa Romeo Tonale, the first car with NFT technology
NFT: certificate of authenticity
Well,
blockchain
technology is also the support for
NFTs, or
non-fungible
tokens
, the latest virtual invention that has just landed in the automotive world.
An NFT is
a digital identifier that is associated with an item,
supporting its authenticity and serving as proof of ownership.
Until now, they have been linked with images, videos and especially, works of art.
The Italian manufacturer Alfa Romeo has given it a new use in the Tonale, the small SUV that it will launch in the coming months and that will be
the first car in the world to carry this technology.
Always with the consent of the owner of the car, the NFT (which is not on board the vehicle, but connected to the cloud) will record data such as mileage, maintenance operations, repairs, etc.
Ensure traceability
As this information is protected by the blockchain, it can be considered as a kind of DNI or passport of the vehicle, since it can only be associated with one in particular, it collects its trajectory and attests to the state in which it is.
This transparency will raise the residual value of the car in question.
Hispano-Suiza will sell 12 cars guaranteed with tokens
Until now,
the closest thing to this idea is the digital maintenance book that Ganvam and the DGT launched in 2019.
Dealers, dealers, workshops,
renting
companies , rental companies, etc. can sign up for free.
The idea is to write down the mileage -wrong in some two million vehicles in circulation- and the repair and maintenance actions to
know the traceability of the car.
The data is transmitted to Traffic
and it adds them to the history it has of each car.
This report can be consulted (paying a fee if it is the full version).
Auction of unique pieces
Alfa Romeo's initiative brings some sanity to the evolution of NFTs, which have built their fame on the basis of elite auctions or unique pieces, like
the first
tweet
.
Jack Dorsey, CEO of Twitter, raked in almost $3 million by auctioning it off.
Porsche also achieved more than 81,000 euros for an original sketch by the Porsche exterior designer.
And Lamborghini has already created its first NFTs: five photographs of one of its cars that simulate taking off from Earth, leaving a trail of pieces that can be
seen in microscopic detail thanks to a resolution of 600 million pixels.
One of the NFT images created by Lamborghini
The next step in the automobile is to use NFTs in the sale of physical cars.
At the end of June,
Hispano Suiza, the Spanish manufacturer of electric supercars, will market 12 units of the Carmen model through that platform.
But there are also great opportunities in classic and collector cars, where there are unique examples and the
tokens
will guarantee their originality and authenticity.
An example of the latter is what
Nike has done.
Given the boom
in luxury and limited-run sneakers, he has patented some with his own token
to put an end to the sale of counterfeits or stolen products.
Also for shared property
In the case of classic cars, those are big words.
They cost a fortune and many are purchased as investments.
The record is held
by a 1963 Ferrari 250 GTO for which 70 million dollars
(about 63 million euros) were paid in 2021. But throughout the world there are dozens of vehicles worth millions.
The NFTs would also allow auctioning them in parts.
Then, the owner of each of them will decide whether to keep it or resell it.
It could be done in a similar way with autonomous cars: their ownership would be shared among several clients... as long as they agree on the distribution of the hours of use.
For this 1963 Ferrari GTO, 63 million were paid
But if there is a fertile ground for
non-fungible
tokens , that is
the metaverse that is being talked about so much: a virtual reality world in which you can do the same things as in the traditional one, but without leaving home
thanks to the augmented and virtual reality.
Our life in a video game
Facebook, Google, NVidia or Microsoft are betting heavily on this digital universe,
which some say offers as many opportunities as the Internet when it appeared.
And 'plots' are already being sold to set up our new 'home' or 'business'.
Of course, the cars will not be missing.
The avatar of Cupra CEO Wayne Griffiths in the metaverse
The transition would be similar to what has occurred in motor sports with e-games.
And for years the Gran Turismo video game has allowed you to compete with existing cars or with others designed exclusively for that platform.
Of course, paying a plus.
A priori, the metaverse offers a great advantage: the cars that are sold in it could never cost what one is produced physically today.
Another thing would be what are called
one-off
, cars from which a single unit is made.
Cupra, Seat's sports brand, has just announced that it will join this new world.
In principle, within a marketing strategy, but without ruling out the sale of cars.
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