The exterior of the car should be a different color.
Chevrolet’s one-of-1 Non-Fungible Token auction (NFT), which included a rear-life vehicle, ended last week without any bidders. Zero bidders were interested in the five-day auction that featured NFT artwork by xsullo as well as a Corvette Z06 custom-colored. SuperRare hosted the NFT auction and extended it for another 24 hours after its initial close. However, it ended without any bidders.
Trevor Thompkins, Chevrolet spokesperson, stated that the company’s “first steps into Web3 have been educational” and that they will continue to use technology to benefit their customers. The minimum bidding was 206 ETH, or well over $230,000 in the auction period. DonorsChoose was to receive the proceeds of the auction.
The winner of the auction would receive the NFT and a unique Corvette Z06 with a “Minted Green” exterior. The Z07 Performance Package, carbon fiber wheels and other special features were expected to be included in the car’s arrival. The Z06 will be powered by a 5.5-liter flat plane crankshaft V8 engine. It produces 670 horsepower (623 Newton-meters) and 460 pounds-feet (623 kilowatts).
The contest rules state that Chevrolet has not built the special Corvette yet and didn’t plan to until the end of the auction. We doubt that Chevrolet will build it given the low bids. However, it’s not over, as Thompkins told CorvetteBlogger it would “take all the lessons learned and apply them to future projects.”
Chevrolet isn’t the only automaker that has experimented with NFTs. Pininfarina was forced to extend an auction to five Ferrari Modula concept non-financial technology (NFT)s that had not met the reserve price. Recently, Bentley, McLaren Lamborghini and Hyundai entered the NFT space .
Web3, NFT and crypto technologies are still at the very early stages of development and adoption. It could take a while for them to become mainstream and usable. Only a few automakers have yet explored NFTs. It will be interesting to see how they approach this technology as it matures.