Lotus, the British automaker that makes sports cars and race cars, recently announced plans to enter the world of non-replaceable tokens (NFT).
As reported in a press release, Lotus will partner with NFT PRO and Ripple, that will provide technical support on the XRP Ledger for the project.
The Lotus NFTs were built in-house by Lotus Design to honor the pioneering spirit of the iconic performance car brand. This drop marks the first entry of the car brand into the Web3 space.
Simone Lane, director of Lotus Advanced Performance, stated that by cooperation with NFT PRO, the company hopes to provide “memorable content for a new digital Lotus fan community.”NFT PRO’s CEO Christine Ferri added that this is just the beginning of the partnership.”
Launching Lotus NFT on XRPL allows NFT fans and digital collectors to experience Lotus Cars in a new and interesting digital space, and also offering exclusive benefits to NFT holders. Further news about the NFT project release date is expected later the current month.
NFTs, that became popular after digital art-based NFT projects such as CryptoPunks and Bored Ape Yacht Club (BAYC), have been expanding into more and more industries, one of which is the automotive industry.
As you read before, there is a variety of Web3 projects in the automotive industry that have undoubtedly recognized the potential of NFT technology to get new customers and market new ideas.
Some companies, such as Lamborghini, are even auctioning NFTs which are related to literal vehicles. In deed, a few months ago, it has been reported in some news that Lamborghini sold a historical Aventador LP 780-4 Ultimate Coupe.
We have to wait and see if the Lotus NFTs are successful. But judging by the number of engines spinning in the NFT space, we believe they perform as well as anyone else.
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