Pininfarina launches into NFTs

  • Pininfarina announced the sale of five non-fungible tokens, or NFTs, tied to the 1970 Modulo concept.
  • Auction house RM Sotheby’s is handling the transaction at an event that occurs later this month.
  • Could there be a worse week than this week to announce it, with the metaverse trending? Well, we can’t be sure.

    The late Norm MacDonald used to give lottery tickets as gifts. It was something like “Here’s what I took from you: nothing!” Speaking of which, let’s talk about NFTs! Can we assume that you are aware of NFTs? If not, here’s the idea: you have a digital file and it’s all yours: a photo, a video, whatever. For a while there, NFTs were going strong, with Bored Ape Yacht Club (pictures of shady humanoid apes) leading the way. But somehow it seems public opinion is turning, and now maybe some people are reconsidering the idea that a JPG of a monkey, or whatever, should be worth more than a house.

    So, just in time for the NFT market bloodbath, Pininfarina has announced a new NFT collection dedicated to its 1970 Modulo concept car, with all five NFTs to be auctioned by RM Sotheby’s later this month. Right now, Pininfarina probably wants the last sentence to be in the past tense and read “last month,” before Tether was detached and Luna crashed and Coinbase’s stock fell 75%. Alright, let’s talk about cars. Kind of.

    Pininfarina

    What exactly is the Pininfarina auction? Well, not the Modulo, or of course. But Pininfarina has original design sketches of the Modulo, which he also doesn’t sell at auction. What they’re selling is a sort of digital diorama of the Modulo set in each of the five decades since its unveiling, with soundtracks created by Sasha Sirota. Perhaps sensing this project needs a little IRL hookup, the winning bidders also take home two physical copies of the design sketches, each signed by Pininfarina president Paolo Pininfarina. Oh, and you get a private tour of the Pininfarina Museum and a meet and greet with the design team. Back on the virtual side of things, this package also includes unique digital replicas of the Pininfarina Modulo that will give you some serious fantasy car collector credibility in the metaverse. What is your bid? The competitor who offers the closest Ethereum value without going over wins the showcase!

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    In his quest to rapaciously separate the dull rich from their money, we wish Pininfarina the best. But the venerable design house may be overstating the overlap between people who own NFT wallets and know who Sasha Sirota is, and people who care about Pininfarina’s accountability. both the Cadillac Allante and the Daewoo Lacetti. To us, Lamborghini seems more like the kind of company that would be in tune with the NFT crowd, a brand that would pump out a few NFTs while the market was still bubbly. Oh wait: they did, for a total of over $600,000. Lamborghini even set up an aftermarket page on its NFT site, so original owners can resell them. So far he has no list.

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