DeLorean has launched an on-chain reservation system and NFT marketplace for its upcoming Alpha 5 EV, introducing a blockchain-based approach for reserving and reselling the vehicle.
The ‘Build Slot’ NFT collection grants holders priority access to purchase the Alpha 5 EV, set to be the automaker’s first model in 40 years, drawing inspiration from the iconic time-traveling device featured in the film series Back to the Future.
The automaker has created an exclusive NFT marketplace using USDC stablecoin on the Sui network, enabling holders to buy, trade, or earn rewards associated with these digital assets.
DeLorean aims to tokenize each Alpha 5 EV’s history and performance data through the FLUX protocol. Key information like battery health, maintenance logs, verified odometer readings, and driving history will be recorded on-chain.
The company contends this detailed data streamlines the assessment and resale process for interested parties, creating a transparent secondary market for the vehicles.
“Since DeLorean emerged in the 1980s, the brand has symbolized vision, rebellion, and futuristic innovation,” said Cameron Wynne, Chief Brand Officer of DeLorean. “Utilizing blockchain technology allows us to establish a new benchmark for the automotive sector.”
Launched alongside its traditional stock ticker symbol (DMC), which changed back to DLRN this year, the NFT reservation system reflects continued exploration into digital assets as part of DeLorean’s digital strategy.
Broader Adoption in Luxury
Leading luxury brands worldwide increasingly explore ways to enhance the digital ownership experience using NFTs. Beyond convenience, these digital assets often serve as passports granting access to unique benefits across ownership lifecycle stages.
NFT implementation helps brands resolve challenges related to provenance tracking and counterfeit prevention. Simultaneously, they foster exclusive communities around products.
For instance, global luxury fashion house Louis Vuitton sold NFT-based digital products in 2023, offering holders limited access to high-value items like a $6,400 digital mini trunk, $9,000 bag and a $8,400 varsity jacket.
Meanwhile, LVMH Group established the ‘AURA’ blockchain platform, where luxury goods are represented as unique NFTs housing provenance data including raw material origins, production dates, authenticity markers and maintenance information.
This expanding sector underscores how blockchain technology is shaping the future of luxury goods ownership and authentication.
