What better place for Porsche to drop its new NFT collection than Art Basel in Miami? Plenty of companies have jumped on the NFT bandwagon with cynical cash grabs, but Porsche’s project looks to be the real deal.
Luxury brands, luxury NFTs
Porsche put their collection in the hands of Patrick Vogel, a Hamburg based 3D artist and former architect. He created an all white version of the iconic Porsche 9/11, but the collection proper is a collaborative affair between artist and community. Collectors will be able to customize their 9/11s with a range of “core themes” from the Porsche brand. This includes a series of routes such as “Heritage” and “Performance,” that change the appearance and functionality of the car.
Delving deeper still, collectors will view their vehicles in a bespoke virtual world (created using Unreal Engine 5) where they'll gain access to even more collectables. This isn’t your usual drop where NFTs sit in a wallet to be admired and accrue value. The collaborative process is unique, as is the custom-built virtual world. 7,500 NFTs will go on sale in January 2023 preceded by an allow list for eager collectors.
In Porsche’s own words, they want to turn their sports cars “into desirable artefacts in the digital world” with a collection that encapsulates everything that the company is: “rare, iconic and timeless.”
Only the beginning?
At the very least, Porsche’s foray into NFTs is significant because it represents another big name brand throwing its weight behind Web3. The timing is pertinent too. Crypto is currently plumbing the depths of the markets, but Porsche (along with many others including Sony, FIFA and Adidas) clearly believes that the bear is only temporary. It's betting big on Web3, and these digital collectables are “just one aspect” of the strategy.
If fully realized, Porsche’s vision will position it deep within the Metaverse, offering a fully customizable and personal connection between brand and customer, virtual and physical worlds. Porsche seems eager to grow the Web3 part of its company as an independent and creative entity. A statement from them reads, “We’ve made our commitment for the long haul and our Web3 team has the autonomy to develop innovations in this dimension.”
In other words, Porsche’s collection is another reason to be bullish af!