Dubai gets its very first supercar ownership NFT series in the world

Dubai gets its very first supercar ownership NFT series in the world

The world’s first supercar ownership NFT (non-fungible token) series was launched in Dubai recently, with buyers of the NFT being offered a physical and digital artwork by Idriss B, an NFT artist, and a month of driving a Mercedes AMG GT Black Series.

The event was organized by MContent, a cryptocurrency and web3 brand company collaborating with Idriss B whose prestigious clients include Lindsey Lohan, Snoop Dogg, and Akon.

An overall of 12 one-of-a-kinds tailored digital and physical artworks are estimated to be given to NFT buyers, each considering a month per year and issued for each owner.

This exclusive NFT offers many benefits, including driving, owning, and experiencing the car for a month every year to preserve the car's unique 3D NFT model and a definite physical miniature of the car with distinctive elements based on the number of the NFT.

Additionally, after some years, the firm will be reselling the car and reallocating the value back directly to its NFT holders. MContent has announced that of the NFT sales proceeds, a fixed amount will be donated to the Rashid Center for People of Determination to contribute to its CSR framework.

During the unveiling event, the digital tutorials from the most popular influencers of auto Arab GT, along with Super Car Blondie, were showcased. It also contained the revealing of 'Project Black', a game-changing NFT collection.

The project was held in the world's first AMG Kaffeehaus, in Al Wasl DUBIA, where the announcement of NFTs listing on Opensea.io in real-time was made, and the first three NFTs received their first bids already during the live announcements ceremony.

The primary base value for each NFT is set around 25 Ethereum or equals USD 80,000, and the Open Sea bidding remains for around 12 days in total.

Source Credit: https://www.zawya.com/en/special-coverage/the-future-of-cryptos/worlds-first-supercar-ownership-nft-launched-in-dubai-m84wjrzg