Over the past couple of years, legacy brands have begun to embrace a world that merges the physical and digital realms. In July 2021, Coca-Cola minted and sold NFTs to benefit Special Olympics International. Less than a year later, Nike launched its Cryptokicks collection, selling one NFT sneaker for more than $130,000. Meanwhile, Gucci regularly experimented in Web3 with drops of film, digital fashion, sculpture and more.
Now, Porsche is making its move.
In an exclusive interview with nft now, the luxury sports car maker announced its official entry into Web3 and revealed initial plans for its decentralized future.
These NFTs could go fast
The first Web3 project Porsche has planned is a 7,500-piece NFT collection based on the classic Porsche 911. The NFTs are scheduled to launch in January 2023, and Hamburg-based designer and 3D artist Patrick Vogel will create each piece.
After making a purchase, holders will help shape the design of their individual NFTs. Specifically, individuals will be able to select a “route” for their NFT – Performance, Lifestyle or Equity. Each route embodies a specific aspect of Porsche’s premium brand identity and will influence the overall design and character of the NFT. In the coming months, Vogel will work with this user input derived from the initial sale to prepare each NFT as a special 3D asset in Unreal Engine 5.
Finally, with this new virtual presentation of the brand, Porsche aims to expand the appeal of its sports cars to encompass the coveted artifacts of the digital world. To that end, when outlining the aesthetics of the 3D images, Lars Krämer, Porsche’s innovation and methods manager, told nft now that the team drew on “Porsche heritage, typical Porsche elements and modern lifestyle to put together an engaging set of possibilities. layers on a creative and symbol-based journey.” He also pointed out that Porsche has set aside some freedom so that owners “let their style and situational mood flow into the view.”
In addition to helping shape the aesthetics of their NFT, owners will also have exclusive access to virtual and real-world experiences.
However, this NFT collection is just the beginning of Porsche’s Web3 plans. “We have made a long-term commitment, and our Web3 team has full freedom to develop innovations in this dimension as well,” said Lutz Meschke, Porsche’s vice president and member of the executive board for finance and IT.
Beyond NFT: the future of Porsche Web3
In addition to phasing out NFTs in January, Porsche is also working to integrate blockchain technologies into its existing (and future) processes. Specifically, the company noted that its innovation management teams see promise in moving the buying experience and supply chain to Web3. Vehicle and sustainability issues are also explored.
So how exactly does Porsche plan to execute this strategy?
To help spread the word about the NFT launch and delve into the rest of its Web3 efforts, Porsche is hosting a panel on November 30 at nft now and The Gateway: A Web3 Metropolis at Mana Common, a five-day festival that has place during Art Basel Miami. There, members of the Porsche team will be joined by visual artist Vexx to discuss their entry into Web3.
Along with its appearance at The Gateway 2022, Porsche is also set to unveil an exclusive art installation at Art Basel Miami 2022. From November 29 to December 3, the physical sculpture Dream big by Chris Labrooy will be exhibited at the Pérez Art Museum in Miami. Submitted as part of Porsche’s The Art of Dreams campaign, this upcoming installation will mark the campaign’s official US debut.
A new kind of connection
When operating within Web2, brands typically focus on improving engagement metrics on social media. They do this by creating content that appeals to the masses – content that is focused on driving as much engagement as possible from online users.
Deniz Keskin, Porsche’s director of brand management and partnerships, noted that Web3 offers the company a way to offer new digital experiences to its consumers. In addition, NFTs and other Web3 technologies extend the creative process, allowing brands to co-create with their customers and provide them with more personalized experiences.
“Adventuring into new areas has always been the spirit of our brand,” said Keskin. “We are excited to enter Web3 with our first NFT collection. Our goal is an extension of our brand in a fully digital environment. And ideally meet new friends along the way.”