New Alfa Romeo SUV uses NFT and blockchain to track car records

New Alfa Romeo SUV uses NFT and blockchain to track car records
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Https.//t. co/xodofr71uq— cointelegraph (@cointelegraph) February 1, 2022mercedes-benz recently partnered with art2people to develop a limited collection of mercedes-benz nft based on its range of g-class vehicles. Italian manufacturer Alfa Romeo unveiled their latest vehicle, the Tonale SUV.

The company claims that it is the first in the industry to connect each vehicle to its own blockchain-based token, which can keep track of the car's entire life cycle. The tonale nft, according to alfa romeo, certifies a car upon purchase and simply records and keeps data during the life of the vehicle. Francesco Calcara, head of global marketing and communication at Alfa Romeo, said:

Francesco Calcara, Marketing and Communications Manager for Alfa Romeo, said:

Automobile companies are increasingly investing in the NFT market, which is forecasted to reach $240 billion by the end of the decade — minting unique collectible digital tokens that are sometimes included with vehicle purchases.

Related: Automakers are minting NFTs, but is there a strong use case?

Blockchain is now being linked to everything from real estate deals to sports fan engagement tokens. Blockchain is now tied to everything from real estate transactions to sport fan engagement chips.

Other luxury car makers such as Lamborghini, Rolls-Royce and Mercedes-Benz have experimented with NFTs. Other manufacturers of luxury vehicles such as lamborghini, rolls-royce and mercedes-benz have experimented with nfts.

Mercedes-Benz recently teamed up with Art2People to develop a limited-edition Mercedes-Benz NFT collection inspired by its G-Class vehicle lineup.