The British luxury car brand Aston Martin recently made its debut in the world of non-fungible tokens (NFTs) with the launch of the Aston Martin NFT Vantage Series. The series, which was developed in partnership with mobile game manufacturer The Tiny Digital Factory, was released to the public on December 19th at a price of around $50. However, despite initial plans to sell 3,000 NFTs by the deadline on December 23rd, the series struggled to find buyers and only 2,582 NFTs were sold. The issuer ultimately had to destroy 300 NFTs in an effort to boost sales, but even this move was not enough to sell out the reduced total of 2,700 NFTs. The fate of the remaining 118 unsold NFTs is unknown.

The Aston Martin NFT series features designs based on the brand’s Vantage GT3 racing car, Vantage sports car, and the classic 1980 V8 Vantage featured in the James Bond film “007: Life at Dawn.” The NFTs were intended to be used in conjunction with a blockchain racing game, expanding the ways in which car companies can utilize NFTs for brand marketing. However, the series’ struggles with sales highlight the importance of ensuring the credibility of the issuer when it comes to both issuing and purchasing NFTs.

While the Aston Martin NFT series may have been a disappointment in terms of sales, it is worth noting that the real marketing benefit for the brand may have come from its partnership with The Tiny Digital Factory’s Infinite Drive mobile game platform. There was little promotional information about the NFT series on Aston Martin’s official social channels, but the brand did receive exposure through its association with the popular racing game. This serves as a reminder for both brands and consumers to carefully consider the reputation of the issuer when it comes to NFTs.

---

Filed under: Bitcoin - @ December 30, 2022 11:20 am