KEY POINTS
Automaker DeLorean has joined forces with crypto payment provider MoonPay to launch a blockchain-based marketplace for vehicle reservations.
Developed in partnership with Otherlife — a creative agency acquired last year by MoonPay — the platform is slated to debut in the fourth quarter of 2024.
This marketplace will enable users to buy, sell, and trade vehicle reservations leveraging blockchain technology, possibly as non-fungible tokens (NFTs).
Additionally, the platform will provide users with insights into vehicle performance analytics, providing details about each car’s history and performance metrics.
This move doesn’t come as a surprise given DeLorean’s prior initiatives in the Web3 space. In 2021, the company marked its 40th anniversary with a series of 40 unique DeLorean NFTs, featuring animated 3D representations of cars.
Furthermore, in 2022, the company announced a partnership with Web3 platform NFT IQ for the launch of its Alpha5 EV with a digital twin. However, this project failed to materialize, and the NFT IQ platform seems to have been shut down.
More recently, in 2024, DeLorean was also cited among the partners in Ready Player One’s Readyverse Studios’ “Open” — an upcoming AAA battle-royale metaverse game.
DeLorean joins other automobile manufacturers in exploring the Web3 space.
Mercedes-Benz introduced its in-car NFT app at CES 2024 in January, focusing on enhancing user personalization. It also unveiled “The Era of Technology” NFT collection, celebrating vehicle designs from 2000 to 2017.
In March, Hyundai introduced its 1975 Pony car model to the metaverse through a collaboration with Zepeto, offering a nostalgic digital experience in “Timeless Seoul.”
According to MarketsandMarkets, the global metaverse market for automotive was valued at $1.9 billion in 2022 and is projected to reach $16.5 billion by 2030.
