Last week, GM announced that it would auction off a one-of-one 2023 Corvette Z06 finished in an exclusive Minted Green exterior color, along with an associated NFT that enables the winning bidder to claim they “own” the one-of-one exterior color.
xsullo NFT of the 2023 Corvette Z06 in Minted Green
The fine print of the contest reveals an interesting detail about the new Mint Green exterior color for the 2023 Corvette Z06 that many readers may not have noticed when the auction was first announced. The rules indicate the vehicle will be “painted by a GM-authorized third party with the color Minted Green (RPO Code RFN),” and that “such paint job will not be covered by GM’s New Vehicle Warranty,” as a result. So while this is a factory GM exterior color with an RPO code, it’s not backed by the automaker’s factory warranty.
It’s also worth noting that the winning bidder of the Corvette Z06 and the associated NFT do not actually “own” the Minted Green exterior color. As the fine print states, “GM agrees that it will not apply this Color to another production vehicle 2023 Corvette Z06,” and “‘Own the Color’ in no way imparts, transfers or bestows any ownership rights or title to Minted Green, other than the agreement from Chevrolet stated above.'”
“The Successful Bidder acknowledges that ‘Own the Color’ is the title of the NFT/marketing campaign only and Successful Bidder has no rights pursuant to ‘Own the Color,'” the fine print states.
This joint NFT and 2023 Corvette Z06 auction went live on June 20th and will end on June 24th. Bids must be placed in the Ethereum cryptocurrency and all proceeds from the sale will benefit DonorsChoose, a nonprofit organization that allows American public school teachers to request and receive school supplies for everyday classroom work or special student projects. The prize vehicle comes equipped with the Z07 Performance Package and will be delivered to the customer through an official Chevrolet dealership of their choosing.
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Comments
kawasaki green
Geez, GMA needs a English major or something. The fine print that says you “don’t own the color” only means you don’t have exclusive rights to it, and that GM or others can paint that color on other things. It doesn’t mean, as you seem to think, that GM can come by and repossess the paint on your car. You “own” the color on your car. You just can’t keep the color from being used on other things.
The more interesting detail is the lack of gm warranty. Does the third party paint shop warrant the materials and workmanship? Likely a lot more fine print in the contract. Not that it matters, I don’t have the play fund to make a serious bid on such a toy anyway!
Too bad that GM will not be spraying this vehicle… I am not a fan of repaints from the factory that were done by an outside source. (not saying the quality would suck, that’s just me) I’m out
I’m curious if they did a barebones paint job or just went over an already-painted vehicle.
Black is best; or candy apple 🍎. Bright blue is cool too.
How about a wrap, when tired of that color peel off or gm could peel off and take home.
What about a need for damage repair? How do you get the paint? This is a bit stupid?
If this is a collectible as they’re hyping it, then I expect Hendrick will end up owning it…hard for me to get interested in this car.
The way things are going, the winning bidder will probably get a white Z06 and a $50 credit…citing supply issues getting the green paint.
I recall years ago the Corvette had a paint delete option. At that time the quality of the exterior panels was so bad that many customers would finesse the panels and then apply the final color coat. The cars left the Saint Louis plant in primer coat. At the time, i was an engineer for the “B” car Impala/Caprice which was also built at the same plant on a different line.
Terrible color,. Hideous
At least it will be easy to find in a parking lot…
The thing didn’t sell…which I think is hilarious… $228,000 starting price too high on a platform too many are uncomfortable with. I wonder where it will end up next.