Porsche Insists NFTs Are Still Relevant At Art Basel Miami

As for the wholly controversial reputation that NFTs have worked so hard to garner in the last few years, Porsche says it has addressed those concerns. Owners will “gain exclusive access to experiences in the virtual and real world,” and Porsche has offered some clarity on its stance on NFTs as a whole.

“Innovation management at Porsche also sees potential in the purchasing experience, the metaverse, and the supply chain. Vehicle and sustainability issues are also being considered,” said Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT.

NFTs and cryptocurrency have seen a sharp decline in their value, most recently accompanied by the media storm surrounding the collapse of digital marketplace FTX. Other brands have also spoken out against the use of NFTs in the automotive space.

“We could easily take the popular NFT route and make bespoke digital artworks but will wait until there is a real, environmentally-friendly benefit to using NFTs,” said Polestar CEO Thomas Ingenlath earlier this year.

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