Crypto art market pilot project
Porsche to auction exclusive design sketch as a non-fungible token
Porsche Germany is realising a pilot project with non-copyable digital objects, known as non-fungible tokens (NFT). Between 2 and 6 August 2021, collectors and Porsche fans will have the opportunity to purchase at auction an exclusive design sketch by Peter Varga, Director Exterior Design, via the US platform SuperRare. The special feature of the unique drawing is that it will be offered as a digital and physical asset; the total proceeds will be donated to the non-profit organisation Viva con Agua. The sports car manufacturer’s first NFT activity is supported by the subsidiary Porsche Digital and the recently spun-off technology start-up Fanzone as an NFT platform for digital trading cards.
“With the NFT initiative, we are once again demonstrating the pioneering spirit typical of Porsche, with which we are always boldly entering new terrain,” says Alexander Pollich, CEO of Porsche Deutschland. “With NFT, we are addressing existing Porsche customers, who are often passionate collectors, as well as new, younger target groups with a high affinity for digital trends. What is also especially pleasing for me is the fact that the initiative for the project was developed in our internal innovation process and implemented within a few months.”
“Drawing a design sketch which is then traded online as a digital object was a completely new experience for me,” says Peter Varga, Director Exterior Design at Porsche. “The sketch combines the Taycan Cross Turismo with the 911. It links the design language of our iconic sports car with that of the youngest member of the model range. I look forward to seeing the response generated by this unique item among the auction participants.”
NFTs are based on blockchain technology and relate to a specific asset. This means that an NFT represents the digital ownership of a unique item. The digital goods can be stored, sold or traded in a virtual wallet. So far, NFTs have been used primarily in the field of crypto art and for digital collections.
Blockchain platform for trading cards
Porsche is realising the project together with Fanzone. The company builder Forward31 – a business unit of Porsche Digital GmbH – founded the Berlin start-up in June 2021. The young company operates an online platform on which fans can collect and exchange digital player cards as NFT and also profit from their increase in value. Fanzone uses blockchain technology to ensure the rarity and identity of the collector’s items.
Viva con Agua, a non-profit organisation founded in Hamburg in 2006, is committed to providing access to clean drinking water, sanitation and hygiene. For this, Viva con Agua supports water projects worldwide, for example in Uganda and South Africa. The vision of the non-profit organisation is “water for all – all for water”. In order to generate revenue, Viva con Agua regularly uses art auctions in addition to traditional donations.
Further information, film and photo material in the Porsche Newsroom: newsroom.porsche.com