Alfa Romeo presents Tonale SUV with NFT tracking capabilities

Alfa Romeo presents Tonale SUV with NFT tracking capabilities

Italian car brand, supported by Stellantis, Alfa Romeo is launching a new sports utility vehicle in 2023, Tonale, and it will include non-replaceable tokens (NFT) and blockchain technology in its data collection procedures.

As logged in CNBC, recorded NFT data from Tonale SUV will record and store data throughout the vehicle life cycle.

Among the data that will be collected are maintenance data, which is all collected when the car is serviced only by accredited Alfa Romeo dealers. Each of the Tonale SUVs is certified immediately upon purchase, and the NFT Maintenance Data Registry helps assess very good residual value.

“Digitalization is a key driver of our metamorphosis. Tonale is the first car to ever have a blockchain, an unchangeable token. NFTs are based on the same distributed information logic that protects your Bitcoin, ”said Francesco Calcara, head of Alpha Marketing and Communications during a media briefing. “Records all data on the blockchain.”

While the Alfa Romeo Tonale SUV will be the first to use NFT and blockchain to issue data certificates, other automotive brands have used or adopted blockchain technologies in multiple ways in the past. The Indian car company Tata Motors was integrating blockchain-focused solutions from 2019, while Swedish car brand, Volvo once invested at Circulor, a London-based blockchain company engaged in industrial supply chains.

Far from actively embracing blockchain technology as a resource tool to improve key aspects of their business, companies like Tesla have decided to take advantage of blockchain tokenization opportunities, and once accepted Bitcoin as a method of payment for its products in the United States. Although Tesla has halted its bitcoin payment program, it still has significant investments BTC as an asset in its balance sheet.

Italian carmaker Lamborghini unveiled its NFT collection last week, setting a new milestone that is probably uncommon in the automotive industry.

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