A non-stupid use case for NFTs?

I was reluctant about NFTs and the lack of real use cases, after all owning an Ape after paying tx Fees to launder your drug money is not an actual use case, but I was certain that someone would step up and create something of value. This is not the case, I actually think that the way Alfa Romeo is minting their own NFTs is retarded and speaks of a developer department that doesn't actually know their shit about NFTs but spoke with the marketing department and they both decided that jumping in on the NFT bandwagon was the way to go, even if they didn't exactly know how. But Alfa Romeo sets the ground for mainstream and respectable companies getting on the NFT boat, and perhaps opens the door for other big names to actually dare and develop an NFT of their own, and maybe they do it correctly.

The Actual NFT use case of Alfa Romeo

Alfa Romeo, who is the shit when it comes to Italian vehicles, has revealed the first car with its own NFT. The car termed “Tonale” is an electric hybrid car and will be the first car to be equipped with blockchain-based technology in a digital certificate form. It will be uniquely linked and will certify the car at the moment of the purchase. This NFT doesn't prove that you own an Ape, it gives proof that you own something aside from the actual NFT, now we are talking. We could be talking big game, but at least we are talking a different game than that other monkey business (pun intended).

The car is not ugly, it's not amazing and honestly I prefer Aston Martin - not because of James Bond, don't be ridiculous. I wouldn't buy it simply because I just don't like it, but also cos I don't have the money (lol).

Starting at 30k up to 50k US dollarydoos, this first car with an NFT certificate is intended to hold valuable information about the car, information that will be modified as the car gets older. This means that the NFT will hold the information regarding the car's use, maintenance, crashes, glitches etc, during the lifecycle of the car. The NFT can register vehicle data to generate a confidential and non-corruptible record of the vehicle’s life. The company has also claimed that it will give a further source of credibility to owners and dealers to rely on and will also protect residual value.

This means that in the future there will be no way of scamming people into buying an overpriced Alfa Romeo thanks to the Blockchain's immutability. Now THIS would be a great use case, hopefully they go that way. Granted, it gives the government a chance to mess with this and force the car dealerships to share all this info with them, and also include some sort of blockchain-based GPS trackers of the sorts to have us under even more control, but maybe that's just my paranoid self speaking.

The parent company of Alfa Romeo, Stellantis has claimed that Alfa Romeo Tonale is the most technologically advanced Alfa Romeo has ever offered. It will also have a plug-in hybrid electric vehicle technology and will be available in the USA in 2023. That's just overhyping a product using buzzwords that will work in their favor. If they are the first car company using NFTs be sure as shit that they will push as many buzzwords and try to get it out as much as possible. I don't blame them, I would follow that strategy too. After all NFT is the modern, cool, trendy term that marketers have to pretend they know what it is about and try to cram it into every description of their products to make the shareholders happy and try to appeal to the young side of the market.

One thing makes me doubt though. Who is their potential market? Sure as hell is not boomers who couldn't care less about NFTs; Alfa Romeo is not a zoomer (genZ members, come on, get in with the times grandpa, learn the terms) brand; NFT buyers won't be able to launder money with this... so, who is their actual potential market other than their current market? Why are they going through all this hazzle and investing money if their market share might not even grow, and maybe they'll alienate their boomer market trying to appeal to the younglings.

In case you've been living under a rock the past year, the NFT market has seen an increase in interest and investment over the past year. It is expected to be worth $35 billion in 2022 and more than $80 billion by 2025. NFTs are unique digital tokens that represent an asset, like audio, video or even network or virtual real-estate. Most of this money is dirty, as in, an Ape is not worth 300k USD unless the buyer wants to clean some Nicaraguan drug money - yeah, not all the money there is dirty, I know, I'm just generalizing, don't take it personal, I also own some punk NFTs and I don't kidnap people for a living. Once the market actually grows, I'm pretty sure that buyers will come from diverse backgrounds and the money influx will come from different businesses.

I've said it before and I'll say it again. NFTs as JPEGS and digital shoes are just the beginning, they are utterly retarded and are not a real use case, but they set the basis for the actual use cases in the future - which is why I bought punks, to support the development of these projects even if they are not the real deal yet. You have no idea what this technology can and will actually be used for. This is already poised to disrupt markets like Carfax, ie, cutting out the middle man, the core of decentralization and blockchain. Why pay Carfax for the vehicle report when I can just view the NFT containing the cars history for free on the public blockchain?

Still early days and lots to consider and work out, but finally looks like NFTs are going to start being used to their full potential.

The Blockchain that will host the first car NFT

They haven't said unfortunately but I have a few guesses. I'm pretty sure they won't use ETH; if they've done 10% of their homework - ten is a feasible goal, I wouldn't expect them to know half the crap they need to before entering this market, but ten is a number I would believe - then I'm sure they accounted for gas cost of updating the NFT with information like services or upgrades/replacements. It wouldn't make much sense financially to do this on something like ETH in its current state, for both the consumer and Alfa Romeo. They will definitely go for a mainstream, respectable, most likely overhyped and underdeveloped chain so Hive is out of the question - we have too much potential and a lot of development but no name nor hype :( to be even looked at, but soonTM - so probably Solana due to their recent hype, maybe even Binance or Tron considering the reach of the Chinese at the moment - and the big bucks they can push through to get good PR and deals, hell, maybe even Polygon although I doubt it cause Poly has no big name or at least not as big as the others I mentioned.

What's next?

There's gotta be a way to profit from this. Think of the possibilities.

Imagine minting NFTs for a Lady Gaga (or whatever the zoomers like right now) Concert tickets and cutting out the greedy, trashy, Ticketmaster while offering some visually appealing JPEG that goes with the concert entrance, something that the customer will be able to flash around every day until the next trend comes around.

Hell, imagine making shiny NFTs - just like there are Shiny pokemon that show up every 1/100,000 - and people who get a raffle ticket or a concert ticket or whatever are also participating in a sort of lottery for a shiny version of said ticket that rich people will pay tons for, effectively pushing people to jump into the bandwagon.

It is difficult to say right now since the time horizon is unknown and its unknown which of these technologies will be the emerging winners. Things are a bit like the dotcom bubble right now.

Think the fuck about it, man. This is where things are headed. Legal contracts, physical property, uni degrees, that sort of thing... you can eliminate much of the title work that goes with it and have an immutably basis to back everything up.

See where this is going yet?

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