Porsche Just Entered Web3 With Its First NFT Collection – Crypto News

Over the last two years, legacy brands have started embracing a world that blends physical and digital realms. In July 2021, Coca-Cola minted and sold NFTs to benefit Special Olympics International. Less than a year later Nike released their Cryptokicks collection, selling an NFT sneaker for more than $130,000. Meanwhile, Gucci has been regularly experimenting in Web3 with drops spanning film, digital fashion, sculpture, and more.

Now, Porsche is making its move.

In an exclusive interview with nft now, the luxury sports car manufacturer announced its official entrance to Web3 and unveiled its initial plans for its decentralized future.

These NFTs might go fast

The first Web3 project Porsche has planned is a 7,500-piece NFT collection based on the classic Porsche 911. The NFTs are scheduled to be released in January 2023, and Hamburg designer and 3D artist Patrick Vogel will create each piece.

After making a purchase, holders will help shape the design of their individual NFTs. Specifically, individuals will be able to select a “route” for their NFT — Performance, Lifestyle, or Heritage. Each route embodies a specific aspect of Porsche’s premium brand identity and will influence the overall design and character of the NFT. Over the subsequent months, Vogel will work with this user input derived from the initial sale to prepare each NFT as a special 3D asset in Unreal Engine 5,

Ultimately, through this new virtual brand presentation, Porsche aims to expand the appeal of its sports cars to encompass coveted artifacts in the digital world. To this end, when outlining the aesthetic of the 3D visuals, Lars Krämer, Porsche’s manager of innovation & methods, told nft now that the team drew on “Porsche heritage, typical Porsche elements, and modern lifestyle to put together an exciting set of possible layers in a token-gated and creative journey.” He also emphasized that Porsche set aside a certain amount of freedom so that the owners “can let their style and situational mood flow into the visualization.”

In addition to helping shape the aesthetic of their NFT, owners will also get exclusive access to experiences in the virtual and real world.

However, this NFT collection is only the beginning of Porsche’s Web3 plans. “We’ve made our commitment for the long haul, and our Web3 team has every freedom to develop innovations in this dimension as well,” said Lutz Meschke, Porsche’s deputy chairman and member of the executive board for finance and IT.

Beyond NFTs: Porsche’s Web3 future

In addition to its January NFT drop, Porsche is also working to integrate blockchain technologies into its existing (and future) processes. Specifically, the company noted that its innovation management teams see promise in moving the purchasing experience and supply chain into Web3. Vehicle and sustainability issues are also being explored.

So, how exactly is Porsche planning to execute this strategy?

To help spread the word regarding its NFT launch and dive deeper into the rest of its Web3 efforts, Porsche is hosting a panel on November 30 at nft now and Mana Common’s The Gateway: A Web3 Metropolis, a five-day festival taking place during Art Basel Miami. There, members of the Porsche team will be joined by visual artist Vexx to discuss their entry into Web3.

Along with its appearance at The Gateway 2022, Porsche is also set to unveil an exclusive art installation at Art Basel Miami 2022. From November 29 until December 3, the physical sculpture dream big by Chris Labrooy will be displayed at the Pérez Art Museum Miami. Filed under Porsche’s The Art of Dreams campaign, this upcoming installation will mark the campaign’s official US debut.

A new kind of connection

When operating under Web2 frameworks, brands typically focus on improving their engagement metrics on social media. They do so by creating content that appeals to the masses — content that is centered on driving as much engagement as possible from users online.

Deniz Keskin, Porsche’s Director of Brand Management and Partnerships, noted that Web3 offers a way for the company to give its consumers novel digital experiences. What’s more, NFTs and other Web3 technologies expand the creative process, allowing brands to co-create with their customers and provide more custom-tailored experiences to them.

“Venturing into new areas has always been the spirit of our brand,” Keskin said. “We are excited to enter Web3 with our first NFT collection. Our goal is an extension of our brand into a fully digital environment. And ideally, to meet new friends along the way.”