The Chevrolet brand of General Motors Co. in Detroit is bringing its historic Corvette nameplate into the futuristic world of non-fungible token (NFTs) by auctioning a one-of-one 2023 Corvette Z06-inspired NFT artwork created by the artist xsullo.
The auction also includes an actual Corvette Z06 that matches the NFT.
The Own the Color auction is offered exclusively via SuperRare, a marketplace for unique NFT artwork. The car and the NFT are custom painted in Minted Green, a reference to minting NFTs.
The auction will be live to eligible bidders worldwide June 20-24 and those interested may only place bids in Ethereum, a type of cryptocurrency.
“Own the Color” means Chevrolet will not apply Minted Green to another production 2023 Corvette Z06. In addition to a digital certificate of ownership and authenticity for the art piece, the physical Corvette Z06, equipped with the Z07 performance package, carbon fiber wheels, and a commemorative plaque, will carry the option code RFN.
The signification will forever associate the car with this auction and it’s one-of-one status. Further, the VIN for this Corvette Z06 is inspired by binary code, the language of computers, as a further connection between the car and Web3.
“Corvette is a halo at Chevrolet. It’s the pinnacle of performance and staying cutting-edge means getting into new territories as a bit of a pioneer,” says Steve Majoros, vice president, Chevrolet Marketing. “This is our company’s first NFT. We see ‘Own the Color’ as an important stepping stone for Chevrolet into future digital initiatives for our customers.”
The artist xsullo says: “I’ve been wanting to combine my digital art with the physical world, so it’s been a great opportunity to work with Chevrolet to bridge these two worlds. The Corvette Z06 is an ambitious car that I totally vibe with. I’m drawn to how technology can make us feel, and I can tell the designers of Corvette Z06 draw from similar inspiration.”
All proceeds from the auction will benefit DonorsChoose, whose mission is to make it easy for anyone to help a teacher in need and move us closer to a nation where students in every community have the tools and experiences they need for a great education. Full terms and conditions of the auction, including limitations, eligibility and how to win are available here.
DonorsChoose and Chevrolet have a history of collaborating on projects that further General Motors’ commitment to STEM education for all. This auction taps the ability for DonorsChoose to collect cryptocurrency donations, highlighting the many ways people can help teachers make an impact on their students. In 2022, two prior auctions involving Corvette Z06 raised $4.6 million in charitable contributions for other nonprofits.
“GM is empowering STEM teachers through one of the most innovative ways our educators have received funding for their DonorsChoose projects,” says Alix Guerrier, CEO of DonorsChoose. “This partnership shows just how possible it is for the digital and traditional sectors to engage in a way that benefits students’ education in public schools across the country.”
As a way to bring the digital world into real life, the Own the Color artwork will be available for viewing at The Crypt Gallery during NFT NYC, one of the biggest NFT events of the year. The Crypt Gallery, the first NFT gallery in the hospitality industry, is launching its second location at Dream Downtown hotel in New York City.
Chevrolet and SuperRare also will cohost a Twitter Spaces on June 20, featuring The Crypt Gallery, xsullo, and others to discuss this unique offering.