Volkswagen partners with largest blockchain startup to create NFT platform

Volkswagen partners with largest blockchain startup to create NFT platform

The NFT market is getting more public attention and more investment from brands from different market segments. Responsible for fostering new experiences and innovating consumer relationships between companies and their audiences, in addition to generating more engagement, it helps create new markets and generate new business. In this context, OnePercent became a partner in the Volkswagen Digital Garage VW project. The Brazilian startup, a reference for blockchain technology in Latin America, is responsible for creating the carmaker’s NFT platform, as well as the process of “mining” non-fungible tokens.

NFT is a digital certificate established through blockchain that defines the originality and exclusivity of digital goods. An acronym for “Non-fungible Token” (“Non-fungible Token”, free translation), NFTs have attracted attention after millions of dollars were used to buy such assets on the Internet.

Digital Garage VW brings exclusive digital content to the public, special collections involving Volkswagen cars, and the collectibles include not only the brand’s iconic models, but also classics and so-called concept cars. In this way, fans of the car market can collect items, effectively forming a digital garage.

“OnePercent has a history of participating in market-disrupting projects and the partnership with Volkswagen strengthens our positioning to bridge individuals and companies by joining web3”, emphasizes Fausto Vanin, co-founder of the startup.

In addition to being a project created by OnePercent built on a sustainable NFT platform that offsets the carbon footprint of minting each token, the action also brings the possibility to pay via credit card, pix or even cryptocurrencies.

The Polygon network was chosen to mint NFTs because it is a solution that relies on a consensus model called Proof of Stake (or PoS), which is more beneficial to the environment and is also backed by the security of the Ethereum network..

This innovative product was launched for the Brazilian market on Monday the 11th through a live broadcast on the popular Youtube channel. The automaker’s use of cryptocurrency can amplify the experience not only of its customers, but of anyone with a close relationship to the segment.

Exclusivity is the main characteristic of an NFT: it is a digital representation of a commodity (such as a piece of art) through blockchain technology. Tokens of this type cannot be replaced by other things of the same kind, quantity and value. Therefore, each digital asset is unique, authentic and original.

On the Digital Garage platform developed for storing, exchanging and selling digital items, the public will initially discover two collectibles. One of them is the GT Collection, with 23 GT series models. Another is Pen&Paper, which brings together 45 sketches of established models. Card rarity is divided into three tiers: Hero (about 80% of available images), Premium (about 15% of Collectibles), and Legendary (under 5%). The NFT, developed by VW Design Studio, will offer packs of three random options, but will also offer a special pack option with five cards, increasing the chances of getting rare items.

The person who purchases the non-fungible token has original ownership of the exclusive work. Artwork and metadata, the information describing what that digital asset represents, will be stored in IPFS: a service that allows owners to access their assets, whether or not they are connected to the internet.

For the first time, 100% digital items will be available, but plans to implement branded NFT-related experiences and physical items in the next series. OnePercent will also implement a new sales model based on the auction of unique items, developed by Volkswagen specifically for this purpose. Digital Garage VW should provide a marketplace in the future that allows you to resell cards (current or closed collections), donate or give gifts to others within the platform.

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