From BMW to Aston Martin: How Auto Manufacturers are Embracing Web3 and NFTs
Hello
In today’s dispatch, we have:
Auto manufacturers are embracing Web3 and NFTs
OG bitcoin dev loses $3M+ in a hack
Over 2.2 million ENS names were registered just in 2022
WEB3 is the new favourite playground for automakers. The industry, which is typically slow to adopt change, is realizing that adding Web 3 and blockchain into the mix is existential and brings crazy opportunities to the table.
It is an easy source of revenue, a new sales channel with high community engagement, plus it offers enormous brand value.
And all these auto giants seem to have one thing in common - their love for NFTs!
Here's a rundown of all the carmakers and their recent web3 pushes:
BMW:
Filed NFT and Metaverse-related trademark applications for its logo.
Plans integrate decentralized tech in two phases-daily operations and customer loyalty program.
Mercedes Benz:
Filed a trademark application for NFT and Metaverse.
Launched a Polygon-based blockchain-based data-sharing network.
Released a bunch of NFT memorabilia for the Miami Grand Prix
Porche:
Official website launched an NFT page and created a Twitter account named eth_porsche.
Plans to release a 7,500-piece NFT collection based on the classic Porsche 911.
Lamborghini:
Lamborghini revealed its first NFT project - "Space Time Memory" in January
Launched The Epic Road Trip campaign in collaboration with Web3 studios NFT PRO and INVNT.ATOM, the global division of INVNT GROUP,
Bently:
Announced its first NFT release with Polygon network - unique artwork created by Bentley Design that will offer unique access and exclusive rewards to holders.
Fiat: launched its first metaverse store on Dec. 3, allowing potential customers to take a virtual tour of one of its cars
Renault: launched its industrial metaverse, aiming to save $330 million with its implementation.
Ford: filed 19 trademark applications to protect and develop its brand image in the metaverse.
Hyundai: announced its NFT launch with 'Meta Kongz.' - provides its users with the Hyundai brand experience in the metaverse.
McLaren Automotive: announced the introduction of McLaren Special Operations (MSO) LAB, the company's metaverse strategy.
Aston Martin: released 3,000 NFT cars for you to drive in Tiny Digital Factory's metaverse.
And let’s wait and see what 2023 has in store!
OG bitcoin dev loses $3M+ in a hack
2023 turns out to be a bad start for Luke Dashjr, who contends to be the longest contributing Bitcoin Core developer.
He stated that on New Year's Day, an unknown hacker looted "essentially all" of his Bitcoin assets, valued at $3.6 Million.
What's so different?
Although many large exchanges and accounts were hacked in the previous year, this case is unique since Luke is not your usual crypto bro.
He kept all his assets in self-custody, which means he stored them in hard wallets and did not use any centralised exchanges. So, despite the fact that hard wallets are specifically designed for protection, the breach occurred.
But how? It has yet to be determined for sure how it happened. Some believe he was the victim of a malware assault in November. But yeah, Binance CEO Changpeng "CZ" Zhao offered his support, adding that he had informed his exchange's security staff about the theft and that any crypto related to the hack would be frozen if it was delivered to Binance.
Over 2.2 million ENS names were registered just in 2022
Despite poor market conditions in the crypto space, 2022 proved to be a good year for Ethereum Name Service. The platform registered over 2.2 million domains, more than 80% of all ENS domains ever created.
ENS domains are effectively NFTs that act as Ethereum wallet addresses, cryptographic hashes, or website URLs (NFTs). Users who utilise ENS names for decentralised profiles that work across decentralised applications and platforms have fueled the adoption.
As the service grew in popularity, a number of collaborations with large exchange operators such as Coinbase emerged. In September 2022, the American exchange announced the incorporation of ENS, which will allow users to replace traditional Coinbase bitcoin wallet addresses with language-based usernames.