BENTLEY Motors has introduced its first enterprise into the NFT market with a one-time NFT drop on the Polygon community, which is scheduled for September 2022 and restricted to only 208 items.
A non-fungible token (NFT) is a monetary safety consisting of digital knowledge saved in a blockchain – a type of distributed ledger. Possession of an NFT is recorded within the blockchain and will be transferred by the proprietor, permitting NFTs to be offered on-line, incessantly by means of cryptocurrency buying and selling (they’re typically encoded with the identical underlying software program as many cryptocurrencies). Consider it as a digital asset that represents real-world objects similar to items of artwork, music, in-game purchases and movies.
The quantity 208 has some significance for the VW Group-owned producer – it’s each the highest pace (in mph) of its quickest Grand Tourer – the Continental GT Velocity – and the full manufacturing run of the enduring R-Kind Continental of 1952 – the automotive that impressed the fashionable Bentley design DNA.
The genesis Bentley NFT might be a “distinctive” art work created by Bentley Design and provide “distinctive” entry and unique rewards to its holder. Bentley is positioning this primary drop to guide a long-term strategy to broaden and improve possession of the Crewe-based marque’s fashions within the Web3 ecosystem. Web3 is an concept for a brand new iteration of the world huge net primarily based on blockchain know-how, which includes ideas similar to decentralisation and token-based economics.
The Bentley assortment might be minted on Polygon, an Ethereum scaling platform that has onboarded thousands and thousands to Web3. Polygon lately attained carbon-neutral standing and has pledged to be carbon detrimental by the tip of 2022. Because of this, all Bentley NFTs might be totally carbon-neutral. With a dedication to attaining end-to-end carbon neutrality by 2030 (by when all new Bentley fashions might be all-electric), it was important for Bentley that its first enterprise into Web3 can be absolutely sustainable.
“Bentley prospects reside their lives on-line, buying luxurious items with digital foreign money, and establishing companies within the Metaverse. We’ve at all times engaged our prospects the place they discover their passions, and at the moment which means being current in digital marketplaces and providing NFT property,” aaid Bentley’s board member for gross sales and advertising and marketing, Alain Favey.
“We’ve seen how NFTs have raised the profiles of each artwork and artist, and we imagine the identical can occur within the luxurious automotive area,” Mr Favey added.
“Polygon is worked up to broaden our partnerships within the vehicle trade, by working with essentially the most prestigious model in its sector. Polygon will present the sustainable, low-fee infrastructure Bentley requires for its foray into Web3,” mentioned Polygon Studios CEO, Ryan Wyatt.
Aside from the NFT drop, Bentley will discover different digital platforms, together with NFCs (non-fungible chips), on-line gaming, Metaverse purposes, and the usage of blockchain know-how throughout the organisation. House owners of a Bentley NFT might be handled to unique group alternatives, rewards and particular utilities – to be introduced quickly, the Crewe-based marque mentioned.
Moreover, proceeds from this and future activations will additional the model’s philanthropic efforts. Bentley says it’ll step up help for college kids excited about engineering, design and manufacturing and plans to help organisations working to facilitate sustainability in transportation sector.
The items of digital artwork featured on the NFTs might be revealed following the drop in September.
