DeLorean launched an onchain reservation system and non-fungible token (NFT) marketplace for its upcoming electric vehicle launch, introducing a new blockchain-based approach for reserving and reselling cars. According to DeLorean, its Build Slot NFT collection grants holders priority access to purchase DeLorean’s upcoming electric car, Alpha 5 EV. The model is the carmaker’s first vehicle in over 40 years, inspired by the iconic flux capacitor from the movie Back to the Future.
The company created an exclusive marketplace for its NFT holders, in which users can buy or trade the NFTs using the USDC stablecoin on the Sui network and will be able to earn rewards. DeLorean says that each vehicle’s history and performance data will be recorded onchain through the FLUX protocol, including key data such as battery health, maintenance records, accident history, and verified odometer readings.
This detailed data makes it easier for auto enthusiasts to bid on or resell vehicles in the secondary market, the company said. “Since DeLorean’s emergence in the 1980s, the brand has stood as a symbol of vision, rebellion, and futuristic innovation,” according to Cameron Wynne, the chief brand officer at DeLorean. “By using blockchain technology, we’re setting a new standard for the automotive industry,” Wynne said.
