CarForCoin, a marketplace where people can buy cars with crypto or cash, is launching NFT-based auctions.
With the increase in popularity of non-fungible tokens (NFTs), Tom Hegedosh, founder of CarForCoin, decided to offer a new way for his clients to buy cars. As a result, he turned each car into an animated NFT.
NFTs are now sold on the website through auctions that have different starting bids depending on the car model.
By participating in these auctions, people will be able to get NFTs while also buying real exotic cars.
Upon winning the auction, the buyer also receives a QR code that can be attached to their vehicle and displays the NFT when scanned from their phone. The QR code will also serve as proof of ownership.
Currently, among the cars available through NFT-based auctions are the 2018 McLaren 720s, 2015 Porsche 911 GT3, and 2018 Mercedes AMG GT Roadster.
The current collection is also available on Opensea at opensea.io/collection/carforcoin.
Interested buyers must still contact CarForCoin to confirm that the vehicle and NFT are still linked for sale, as well as to request the most recent pictures and car information.