(MENAFN) Chevrolet hoped to profit from the cryptocurrency boom in June, when a non-fungible token created with Steve Aoki and sold for USD1.6 million together with the final Lamborghini Aventador LP 780-4 Ultimae Coupe ever produced. It thereby provided a unique NFT with a vehicle motif.
Chevy matched a computer image of a Corvette Z06 in a metropolis a la Blade Runner with a genuine 2023 'Vette that had been specially painted to fit the artwork. Even after the sale was prolonged by a day, the acid-green pair from the Detroit automobile manufacturer received not a single bid. Corvette spokesperson Trevor Thompkins describes the project as " very educational."
According to Mr. Thompkins, Chevy is going to ultimately get back into digital assets. The mess serves as a striking illustration of the NFT market's extreme volatility for the time being.
According to data from Cryptoslam, on July 14, the average sale price for an Ethereum NFT had fallen to USD391, an 84 percent decline from the average of USD2,436 in May. According to Dune, sales volumes on OpenSea, the largest NFT marketplace in the world, have decreased by 75 percent since May.
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