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Bentley believes NFTs can help transform the luxury automotive space just like they disrupted the art industry.
Cover art/illustration via CryptoSlate
British luxury car manufacturer Bentley Motors Limited 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 is set to drop in September 2022 and will feature 208 pieces only. The number of NFTs is symbolic in that it represents the highest speed of Bentley’s fastest Grand Tourer – the Continental GT Speed. 208 also represents the total number of the 1952 R-Type Continental.
Bentley Design will be in charge of creating the NFT collection. Collectors that purchase the NFTs will get unique access and rewards from Bentley. The car manufacturer did not disclose the NFTs’ price tag.
However, Bentley promised to direct the sale’s proceeds towards supporting students interested in engineering, design, and manufacturing. Additionally, the company plans to use the funds to support organizations that push for sustainability, especially in the transportation industry.
The car manufacturer chose to drop its NFT collection on Polygon because the network is carbon neutral. Per the announcement, the Bentley NFTs will be eco-friendly, helping the company build on its commitment to achieving end-to-end carbon neutrality by 2030.
Through today’s announcement, Bentley has become the second automobile company to enter the NFT market. Hyundai came first after collaborating with NFT project Meta Kongz in April. This partnership is part of Hyundai’s Metamobility, the company’s concept of the metaverse.
Hyundai and Meta Kongz marked the partnership by launching 30 limited edition Hyundai x Meta Kongz NFTs.
Jinia is a fintech writer based in Stockholm, Sweden. With years of experience, she has written about cryptocurrency and blockchain for renowned publications such as Cointelegraph, CoinMarketCap, Bitcoinist, Invezz, etc.
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Polygon (previously Matic Network) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Learn more
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