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NFTs are cropping up as news almost every day, and often not for good reason. This is because NFTs are generally speaking quite silly, with silly stories about stolen Ape jpegs (opens in new tab) and rampant counterfeiting (opens in new tab). Even when legit, people can and do pay crazy amounts of money for a digital pair of sneakers (opens in new tab) they’ll never be able to wear, all for the sake of NFTs.
Well according to The Verge (opens in new tab) there’s a new NFT on the block that’s bound to go for a pretty penny. Chevrolet is set to auction a brand new NFT featuring a one of a kind green Corvette.
The very cool artwork was created by Nick Sullo (opens in new tab), and shows the bright green car skidding around blue and pink city backstreets. While the art is incredibly sweet, it’s still just a digital asset. However, the winning bidder for this NFT will also get you that real physical car, so it seems one of the least silly NFT auctions we’ve ever seen.
The Corvette up for auction is a Z06 in the colour called “minted green”, as a nod to how NFTs are made, though is definitely more on the limey side of the spectrum. The real car is being painted to match the NFT artwork and is promised to be the only Z06 in this colour ever to be painted. It will also be associated with the NFT auction via a code, so that the car and the digital version are always linked.
As much as both luxury cars and NFTs can’t help but make me cringe a bit, they seem like a good fit for each other. Being able to charge a premium for a unique physical item that is catalogued digitally makes more sense than an NFT by itself. It’s sort of like a digital keychain for the car. Another way to flaunt wealth when your car can’t be there in person to do it for you.
On this note, Chevy has said it will be donating all the proceeds for the NFT auction to charity. The money will go to DonorsChoose, a charity in the United States that helps underfunded public schools. It’s a little hard to reckon with one person buying a forced scarcity digital asset while a charity like this exists, but at least some of that money is going to a good place.
The auction is set to be held from June 20 – 24 on the NFT marketplace SuperRare (opens in new tab). As per most NFT sales, bids will only be accepted in Ethereum which still hasn’t ditched GPU crypto mining yet (opens in new tab).
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