Bugatti has revealed a new utility for Genesis NFT holders that provides a phygital (physical and digital) experience.
NFT holders can now have access to the “Merch Line” utility, as announced by Bugatti Group in a tweet and on the official Discord channel.
The Merch Line utility allows holders to create their own merch lines or designs on Bugatti products — such as Crossbodies, Luggages, and more — which will then be available for purchase on the main website on a quarterly basis.
A portion of total sales will be returned to the wallet address that owns the entire IP for the bag, or a shared percentage for group merch lines.
Moreover, Bugatti has revealed another utility; a portion of all purchases for that quarter will go to a quarterly distribution wallet, which will be distributed based on the number of Travel Points staked for that quarter.
All of the Bugatti’s utilities rely on Travel Points; applications include minimum point requirements to qualify, incentives per Travel Point staked, and Travel Points Staked used in Raffles for a variety of purposes.
Holders can raise their total Travel Points via blending mechanisms — burning NFTs for points — which will offer more travel points than the commons necessary to generate rarity.
To qualify for the Merch Line Utility, a holder must stake for the specified quarter, which locks, stakes, and makes the NFTs untradable for that time period. A snapshot date will be given, and holders must choose which NFTs they wish to stake for a specific quarter in order to be eligible for the Merch Line utilities.
The launch of this new set of utilities for Genesis NFT holders represents a significant step forward in Bugatti’s Web3 journey. Another project dates back to last month, when the brand collaborated with Shiba Inu to launch the “Shiboshis Club X Bugatti Group” NFT collection, which sold out in just two minutes.
