This NFT Platform Might Be Banking On America's Love Affair With Cars

America’s love affair with cars might be the result of the automotive industry’s push to win people’s hearts and minds since the first vehicles rolled off assembly lines, but it’s certainly become part and parcel of Americana — from the Interstate system to many a folk song. 

When motor vehicles were first introduced in the early 20th century, American streets were filled with horse-drawn carriages and pedestrians. Car accidents that injured or killed pedestrians resulted in a backlash against the automobile industry. 

But the industry persevered in changing the public’s thinking.

First, it invented the term “jaywalking,” a reference to jaybirds being viewed as loud idiots to ridicule pedestrians walking in the street. In the 1920s, thanks to the help of the American Automobile Association, schools began teaching children to avoid streets. 

By 1961, when the phrase “America’s love affair with the automobile” was made popular by the TV show “Merrily We Roll Along,” cars were cemented in the nation’s culture. 

It’s that love affair with cars that has seemingly prompted CurrencyWorks Inc. CWRK CWRK and Barrett-Jackson to create automotive-themed non-fungible tokens (NFTs) for release on its Motoclub.io platform. 

The “Prestige Pack” is the latest NFT release in the Barrett-Jackson 2022 Scottsdale Collector Series. It features four automobiles: 

• 1953 Jaguar XK 120 Roadster
• 2012 McLaren MP4-12C
• 2021 Jeep Gladiator Custom Hellephant Pickup
• 1971 Chevrolet Chevelle Custom Coupe

A New Love Affair With NFTs?

Each vehicle is represented by high-resolution images and a video. Every pack includes four random NFTs from the Prestige tier for a total of 16 that can be collected. Motoclub members can sell and trade their way to complete Prestige sets using the Motoclub Trading Platform or buying additional packs from the Motoclub Showroom.

Last year, Barrett-Jackson auctioned four vehicles to raise money for charity: the first 2021 Ford Mustang Mach 1; a 2021 two-door Ford Bronco; a first-edition 2022 GMC Hummer electric vehicle; and a 2021 Ram 1500 TRX Launch Edition. Motoclub then made NFTs of the sales, which were sold at a later Barrett-Jackson auction. 

“To establish manageable scalability, you must establish ongoing demand for your product, and that’s what we have achieved with Motoclub,” CurrencyWorks Chairman Cameron Chell said. “This latest pack drop keeps the NFT line fresh as well as driving further value through the secondary market as demand outstrips supply.”

Automobile makers are getting in on the NFT trend, too. Mercedes-Benz DMLRY commissioned works from five NFT artists to produce a collection inspired by its G-Class line, and collectors spent $44.2 billion in cryptocurrency on NFT platforms last year, surpassing traditional art sales, according to The 2021 NFT Market Report from Chainalysis. The market is expected to be worth $80 billion by 2025.

Residents of China and Singapore are the most enthusiastic NFT buyers, followed by people in Venezuela, according to Google Trends. The United States didn’t yet make the top 10 countries on the list. 

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Photo by Andrey Metelev on Unsplash