DeLorean x MoonPay Form Web3 Vehicle Registration Marketplace

DeLorean, the famed automaker recognized for the iconic DMC-12 sports car featured in ‘Back to the Future‘, revealed its plans to introduce a web3 marketplace in collaboration with crypto payments company MoonPay.

Crafted in partnership with Otherlife (now under MoonPay’s ownership), the marketplace aims to empower DeLorean enthusiasts to engage in buying, selling, and trading vehicle reservation build slots through blockchain technology.

With a goal of enhancing transparency throughout the reservation process, it will utilize web3 to monitor vehicle performance analytics, providing purchasers 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 after.

DeLorean MoonPay marketplace — Source: X (DeLorean Motor Company)

A Revisited Strategy?

Such an endeavor might ring a bell because DeLorean had previously unveiled a similar initiative in 2022 alongside crypto startup NFT IQ.

During that time, DeLorean had proposed providing tokenized reservations for forthcoming cars, each accompanied by a digital representation of the vehicle as an NFT collectible.

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

It appears that DeLorean has separated from NFT IQ. In response to inquiries regarding the previous digital double concept and its continuity, a representative mentioned that Otherlife would be “reassessing the entire strategy to guarantee the optimal user experience moving forward.

While the past may have seen setbacks, DeLorean’s collaboration with MoonPay signals a promising future for enthusiasts and collectors alike in the world of blockchain-driven automotive commerce.

Want more? Connect with NFT Plazas

Join the Weekly NewsletterJoin our TelegramFollow us on TwitterLike us on FacebookFollow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.