Alfa Romeo reveals the first EV with its own NFT Certificate

Alfa Romeo, an Italian luxury vehicle maker has revealed the first car with its own NFT. The car termed “Tonale” is an electric hybrid car and will be the first car to be equipped with blockchain-based technology in a digital certificate form. It will be uniquely linked and will certify the car at purchase. 

The car has said in a statement that the certificate will evolve to represent its use during the lifecycle of the car. The NFT can register vehicle data to generate a confidential and non-corruptible record of the vehicle’s life. The company has also claimed that it will give a further source of credibility to owners and dealers to rely on and will also protect residual value.

The parent company of Alfa Romeo, Stellantis has claimed that Alfa Romeo Tonale is the most technologically advanced Alfa Romeo has ever offered. It will also have a plug-in hybrid electric vehicle technology and will be available in the USA in 2023.

The NFT market has seen an increase in interest and investment over the past year. It is expected to be worth $35 billion in 2022 and more than $80 billion by 2025. NFTs are unique digital tokens that represent an asset, like audio, video or even network or virtual real-estate.