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Bentley thinks NFTs can have a similar impact on the luxury car business as they have on the art world.
Bentley Motors Limited, a British luxury car manufacturer, is dipping its toes into the Web3 ecosystem with the launch of a non-fungible token (NFT) collection on Ethereum scaling platform Polygon, the company announced today.
Today we announce our first venture into the NFT marketplace with a one-time NFT drop on the carbon-neutral @0xPolygon network, scheduled for September 2022 and limited to just 208 pieces. Discover more: https://t.co/hWnrz69L4g pic.twitter.com/ppSqq5MRAS
— Bentley Motors (@BentleyMotors) June 22, 2022
According to the announcement, the one-time NFT collection will be released in September 2022 and will include only 208 pieces. The number of NFTs is symbolic because it corresponds to the top speed of Bentley's fastest Grand Tourer, the Continental GT Speed. The number 208 also represents the total production of the 1952 R-Type Continental.
Creating a more environmentally friendly future
The NFT collection will be created by Bentley Design. Collectors who purchase the NFTs will be granted special access and rewards from Bentley. The price of the NFTs was not disclosed by the automaker.
However, Bentley has promised to use the proceeds of the sale to help students interested in engineering, design, and manufacturing. Furthermore, the funds will be used to support organizations that promote sustainability, particularly in the transportation industry.
The automaker chose Polygon to host its NFT collection because the network is carbon neutral. According to the announcement, the Bentley NFTs will be environmentally friendly, assisting the company in meeting its commitment to achieve end-to-end carbon neutrality by 2030.
NFTs continue to gain popularity among vehicle manufacturers.
Bentley has become the second automobile company to enter the NFT market as a result of today's announcement. In April, Hyundai was the first to collaborate with NFT project Meta Kongz. This collaboration is part of Hyundai's Metamobility, the company's metaverse concept.
Hyundai and Meta Kongz celebrated their collaboration by releasing 30 limited edition Hyundai x Meta Kongz NFTs.
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