German sports car manufacturer Porsche is unveiling a pilot project with non-interchangeable digital assets or  NFT between 2nd and 6th August which gives access to the collectors & Porsche fans to obtain at the auction a unique design sketch by Peter Varga via US platform SuperRate.

The exclusive design combines the Taycon Cross Turismo SUV with the 911 sports car. It will be presented as a digital NFT and physical asset and the net proceeds will be donated in charity to the non-profit organisation named Viva con Aqua. Porsche Germany’s first non-fungible activity is supported by Porsche Digital and start-up Fanzone as an NFT platform for digital trading cards.

On 2nd August, Porsche’s Director of Exterior Design, Peter Varga stated in a press release of Porsche, “Drawing a design sketch which is then traded online as a digital object was a completely new experience for me”. The designer also quoted that the design sketch links the Porsche’s legendary 911 model with the latest car on the roster.

On other side, Alexander Pollich, CEO of Porsche Deutschland said in the official press release, “With NFT initiative, we are once again demonstrating the pioneering spirit typical of Porsche, with which we are always boldly entering new terrain.” So far, NFTs have been quite useful in the field of crypto art and digital collections.

Porsche is launching the NFT project in partnership with Fanzone, a business unit of Porsche Digital Gmbh, part of the company builder Forward31. The fresh start-up company uses blockchain technology to ensure the uncommonness and uniqueness of the collector’s items.

Christian Knorle, the Head of Company Building at Porsche Digital said, “The demand for classic trading cards and albums has been unbroken for decades, with Fanzone, we are now digitizing this promising market.” In addition the platform has contracted with the Women’s and Men’s German national soccer teams, German national under-21 football team and several prominent players from German professional leagues.

Joyashree Dey

CBW - External Analyst

INDIA