Bentley Makes First Dive into the NFT Marketplace

British luxury automaker, Bentley Motors Limited, has announced its first foray into the Non-Fungible Token (NFT) world as it looks to launch its first collection. As unveiled by the company, the collection will contain 208 uniquely designed collectibles and is billed to be launched in September of this year.

The move by Bentley to wade into the NFT world is a grand plan to chart a course for its Web3.0 strategy as a whole. The company confirmed that the NFTs will be created by Bentley Design and will grant holders unique access and exclusive rewards.

“Bentley customers are living their lives online, purchasing luxury goods with digital currency, and establishing businesses in the Metaverse,” said Alain Favey, Member of the Board for Sales and Marketing. “We’ve always engaged our customers where they explore their passions, and today that means being present in digital marketplaces and offering NFT assets. We’ve seen how NFTs have raised the profiles of both art and artist, and we believe the same can happen in the luxury automotive space.”

The company noted that the number 208 is a very significant one for the company as it represents “both the top speed of its fastest Grand Tourer (the Continental GT Speed) and the total production run of the iconic R-Type Continental of 1952 – the car that inspired the modern Bentley design DNA.”

Bentley NFT and the Sustainability

Bentley said the NFT collection will be built on the Polygon Network, a layer-2 protocol that has attained Carbon Neutrality and is committed to becoming carbon negative by the end of the year. 

“Polygon is excited to expand our partnerships in the automobile industry, by working with the most prestigious brand in its sector,” said Ryan Wyatt, CEO at Polygon. “Polygon will provide the sustainable, low-fee infrastructure Bentley requires for its foray into Web3. By embracing this novel tech, Bentley secures its position in the next iteration of the internet, and doing so via Polygon’s carbon-neutral network will assist the automaker on its journey toward attaining carbon-neutrality by 2030.”

As Bentley looks to become completely Carbon-neutral by 2030, it noted that it is just about right that it makes its debut into the NFT world a sustainable one. Besides Bentley, Lamborghini comes off as another luxury brand that has launched an NFT in recent times with many other traditional auto brands also eyeing the move.