GM will auction off a one-of-one 2023 Corvette Z06 finished in an exclusive Minted Green exterior color later this month, with proceeds from the online auction benefitting education charity DonorsChoose.
Chevy’s upcoming Own the Color auction will be hosted on NFT marketplace SuperRare and will allow users to bid on a one-of-one 2023 Corvette Z06-inspired digital artwork created by an artist that goes by the name “xsullo.” In addition to the NFT, the winning bidder will also receive a custom-painted, real-life 2023 Corvette Z06 finished in an exclusive Minted Green exterior color that matches the vehicle pictured in the art piece. The auction will go live on June 20th and will end on June 24th and bids must be placed in the Ethereum cryptocurrency.
NFT, for readers who may be unaware, stands for “non-fungible token.” An NFT is a piece of digital data that is stored on a blockchain ledger, which makes them uniquely identifiable and therefore irreplicable, or “non-fungible.” As an NFT cannot be replicated, the digital artwork that represents the associated digital data stored on the blockchain can be sold or traded between users on an online marketplace. The Own the Color auction marks the first time Chevy has ventured into the so-called “Web3″ space, brand marketing boss Steve Majoros said, and indicated the automaker is interested in experimenting more with digital ownership going forward.
“Corvette is a halo at Chevrolet,” Majoros said. “It’s the pinnacle of performance and staying cutting-edge means getting into new territories as a bit of a pioneer. 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.”
Not only will the winning bidder of this auction receive an exclusive NFT and a one-of-one 2023 Corvette Z06, but they’ll also have Chevy’s promise that it will never paint another C8 Corvette Z06 in the Minted Green color again. The car in question will carry a special RPO code of RFN and will come loaded with the Z07 Performance Package, carbon fiber wheels and a commemorative build plaque. Chevy says the VIN sequence for the vehicle is also inspired by computer binary code as a further reference to the Web3 world it was born out of.
All proceeds from the NFT and vehicle auction 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.
GM has yet to announce pricing for the 2023 Corvette Z06, although it’s expected to share this information in the near future. Production of the mid-engine supercar will take place at the GM Bowling Green plant in Kentucky.