Chevrolet’s First-Ever NFT Sale Was a Total Disaster

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Another day, another disaster in the world of NFTs. Chevrolet, which attempted to auction off a non-fungible token version of its Corvette Z06 supercar, is the latest company to have its NFT efforts thrown in the face. The auction started on June 20 and ended on June 24, but the auction ended with a total of zero bids despite including an actual 2023 Corvette Z06 in the package. Ouch.

“Unique curated NFT artwork” was produced by digital artist “xsullo” and finished in a unique “Minted Green” paint job with carbon fiber wheels and the Z07 performance package. An actual version of the digital Z06 was included in the auction, and Chevrolet promised that the unique colorway would not appear on any of its production versions to maintain the set’s unique appeal. However, it turned out that said call was, in fact, non-existent.

Confused as to why eager bidders weren’t jumping at the chance to purchase the mint-green computerized machine, auction host SuperRare extended the auction an additional 24 hours past the closing date initial. However, the auction ended for the second time with, you guessed it, no bids.

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One of the reasons the auction gained so little ground could be that bids were only accepted in Ethereum cryptocurrency, while Z06’s starting price started at 206 ETH, which equates to around $240,000 (£199,010). That’s a huge amount of extra cash for a car expected to cost around $90,000 (£74,629) as standard, and the lure of a one-off paint job and matching digital model might not entice buyers to part with the extra money. What a surprise.

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