DeLorean x MoonPay Form Web3 Vehicle Registration Marketplace

DeLorean x MoonPay Form Web3 Vehicle Registration Marketplace

DeLoreanthe famous car manufacturer known for the iconic DMC-12 sports car featured in “Back to the Future”, has revealed plans to introduce a web3 market in collaboration with a crypto payment company MoonPay.

Created in partnership with Otherlife (now under MoonPay ownership), the marketplace aims to enable DeLorean enthusiasts to engage in the buying, selling and trading of vehicle reservation slots through blockchain technology.

Aiming to improve transparency throughout the booking process, the company will use Web3 to monitor vehicle performance analytics, providing buyers with an immutable record of each car’s historical and performance data.

Launching on DeLorean.com by Q4 2024, existing build slot holders will initially be able to manage reservations, with new ones opening shortly thereafter.

Source: X (DeLorean Motor Company)

A revisited strategy?

Such a venture could ring a bell as DeLorean had already unveiled a similar initiative in 2022 alongside crypto startup NFT IQ.

Meanwhile, DeLorean had proposed offering token reservations for upcoming cars, each accompanied by a digital representation of the vehicle in the form of Collectible NFTs.

However, NFT IQ is no longer operational, evidenced by the defunct URL and lack of updates on its social media accounts since 2022.

It appears DeLorean has parted ways with NFT IQ. In response to questions regarding the old dual digital concept and its continuation, a representative mentioned that Otherlife would “reevaluate the entire strategy to ensure an optimal user experience in the future.”

Although the past may have had its setbacks, DeLorean’s collaboration with MoonPay heralds a bright future for enthusiasts and collectors in the world of blockchain-based automotive commerce.

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Web3 enthusiast with distinctive insight into blockchain-based creative developments.

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