Alfa Romeo is the First Major Carmaker to Use NFTs

Alfa Romeo is the First Major Carmaker to Use NFTs

Troy Warren for CNT #Cars  #NFT

It is common knowledge that Alfa Romeo (owned by Stellantis, formerly Fiat Chrysler), the luxury Italian carmaker, is struggling relative to its fancier rivals like Mercedes when it comes to both sales and brand value. In a press media briefing, Alfa Romeo Head of Marketing Francesco Calcara mentioned that “Digitalization is a key enabler of our metamorphosis, NFTs will sustain the residual values of our models as we are the first in the market to adopt this next-generation technology.”

So what is Alfa Romeo doing with NFTs? Let’s find out.

They plan to use NFTs to track and store maintenance records on the blockchain for its new hybrid, Tonale SUV. The main objective is to bring transparency and efficiency to the automotive market that relies on third parties to track car records. Alfa Romeo wants to use NFTs by generating a tamper-proof certificate from records of its maintenance data specifically for service done by certified dealers.

This is a great example of an NFT with real utility. Alfa Romeo joins other examples like, minting an NFT as a housing property deal, or health companies tokenizing patient health records. Times are definitely exciting for NFTs.

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By Troy Warren

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