The 2023 Chevrolet Corvette Z06 Enters the Mysterious World of NFTs
Chevrolet wants to be on the cutting edge of auto production and design, so its latest charitable donation combines the two and enters the abstract world of NFTs. Chevrolet cooperated with artist xsullo to create a one-of-a-kind 2023 Chevrolet Corvette Z06 that will be featured on an exclusive NFT. The special Corvette and the NFT will be sold together at auction. All of the proceeds will benefit an education fund called DonorsChoose.
“Own the Color” Auction
This is Chevrolet’s first venture into the world of NFTs or non-fungible tokens. The upcoming “Own the Color” auction pairs the NFT with a custom-painted, real-life 2023 Corvette Z06 color-matched to the artwork. The auction, benefitting DonorsChoose, takes place June 20-24 exclusively via SuperRare. The winning bidder will be the only one to “Own the Color” of Minted Green. The name of the color is a reference to minting NFTs. The auction will be live to eligible bidders worldwide June 20-24 and those interested may only place bids in Ethereum.
“Corvette is a halo at Chevrolet. It’s the pinnacle of performance and staying cutting-edge means getting into new territories as a bit of a pioneer,” said Steve Majoros, vice president, Chevrolet Marketing. “This is our company’s first NFT. We see ‘Own the Color’ as an important stepping stone for Chevrolet into future digital initiatives for our customers.”
“Own the Color” means Chevrolet will not apply Minted Green to another production 2023 Corvette Z06. In addition to a digital certificate of ownership and authenticity for the art piece, the physical Corvette Z06, equipped with the Z07 performance package, carbon fiber wheels and a commemorative plaque, will carry the option code RFN. The signification will forever associate the car with this auction and it’s one-of-one status. Further, the VIN for this Corvette Z06 is inspired by binary code, the language of computers, as a further connection between the car and Web3.
“I’ve been wanting to combine my digital art with the physical world, so it's been a great opportunity to work with Chevrolet to bridge these two worlds,” said xsullo. “The Corvette Z06 is an ambitious car that I totally vibe with. I’m drawn to how technology can make us feel, and I can tell the designers of Corvette Z06 draw from similar inspiration.”
DonorsChoose Education Fund
DonorsChoose and Chevrolet have previously worked together on projects that demonstrate General Motors’ commitment to STEM education. This auction will allow donors to make cryptocurrency donations, highlighting the many ways people can help teachers make an impact on their students. In 2022, two prior auctions involving Corvette Z06 raised $4.6 million in charitable contributions for other nonprofits.
"GM is empowering STEM teachers through one of the most innovative ways our educators have received funding for their DonorsChoose projects," said Alix Guerrier, CEO of DonorsChoose. "This partnership shows just how possible it is for the digital and traditional sectors to engage in a way that benefits students' education in public schools across the country."
The “Own the Color” artwork will be available for viewing in person at The Crypt Gallery during NFT NYC, one of the biggest NFT events of the year. The Crypt Gallery is the first NFT gallery in the hospitality industry.
Full terms and conditions of the auction, including limitations, eligibility and how to win are available at Chevrolet.com/CorvetteZ06NFTterms. The artist, xsullo, has sold a number of works on SuperRare in the past.
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