Bentley joins growing number of auto brand launching NFTs

Luxury car brand Bentley Motors will launch a non-fungible token (NFT) in September by dropping just 208, in reference to the top-speed Grand Tourer and the number of 1952 R-Type Continentals produced.

The key benefit will likely be the access and rewards available to NFT owners.

According to Alain Favey, Board member for sales and marketing at Bentley. they’ve always engaged their customers where they explore their passions, and today that means being present in digital marketplaces and offering NFT assets.

Favey pointed out that Bentley customers are living their lives online, purchasing luxury goods with digital currency, and establishing businesses in the Metaverse.

He added that they’ve seen how NFTs have raised the profiles of both art and artist, and they believe the same can happen in the luxury automotive space.

Bentley uses Polygon, a proof of stake blockchain, because it is seen as sustainable, and the proceeds of the NFT drop will support engineering and design students as well as sustainability initiatives.

It claims that this is its initial foray into Web3. It has plans to use blockchain technology in its operations as well as online gaming, metaverse applications, and non-fungible chips (NFCs) that connect the car to an NFT.

Numerous automakers have introduced NFTs. Some, like Lamborghini, Audi, and Hyundai, have hazy ties to the automobiles at first. Volkswagen, McLaren, and Porsche, among others, have much closer ties.