Chevrolet Corvette Z06 becomes GM’s first NFT
Chevrolet didn’t just jump into the modern sports car market with the Corvette Z06. It went full throttle, delivering a model with the most powerful V8 engine ever produced for a production car and fine-tuned looks and equipment to optimize its performance on the track.
Today, the company pushes the limits of modernity even further. This time, in the blockchain. The General Motors division has teamed up with artist Xsullo to create its first entry into the Web3 space.
Web3 is a blockchain-integrated, user-owned version of the internet where cryptocurrencies and non-fungible tokens (NFTs) are designed to be used.
As part of the upcoming “Own the Color” auction, bidders will be able to compete for changes to win a custom-painted, real-life 2023 Chevrolet Corvette Z06, color-matched to the NFT artwork with which it is auctioned off.
The winner of the auction will receive exclusive rights to the mint green color that will appear on the model. This means that Chevrolet will not apply this exterior paint color to any other 2023 Corvette Z06.
The uniquely painted car will feature the Z07 performance pack, carbon fiber wheels, commemorative plaque and option code RFN.
“The Corvette is a halo at Chevrolet. It’s the pinnacle of performance and staying on the cutting edge means breaking into new territory as a pioneer,” said Steve Majoros, vice president, Chevrolet Marketing. “This is our company’s first NFT. We see ‘Own the Colour’ as an important stepping stone for Chevrolet towards future digital initiatives for our customers.”
The Corvette Z06’s vehicle identification number (VIN) that’s part of the auction is inspired by binary code, a move that further ties the car to its online sale.
The sale will take place via SuperRare, a marketplace for NFT artwork from June 20-24. Bidders can conduct their business in Ethereum.
“I wanted to combine my digital art with the physical world, so this was a great opportunity to work with Chevrolet to bridge those two worlds,” xsullo said. “The Corvette Z06 is an ambitious car that I’m totally thrilled with. I’m drawn to the way technology can make us feel, and I can say the designers of the Corvette Z06 tap into similar inspiration.”
The artwork “Own the Color” will be available at the Crypt Gallery during NFT NYC. The gallery is the first NFT gallery in the hospitality industry. His second location is at the Dream Downtown, a hotel in New York City.
All proceeds from the auction will benefit DonorsChoose, an organization that aims to make it easy for anyone to help a teacher in need.