Mercedes, Porsche and Lamborghini NFTs: Driving Web3 Crazy 🤯
PLUS: The Blueprint For Brands Getting Into Web3
GM DOers! 🚀
Mercedes, Porsche and Lamborghini all launched NFTs in the past few years. 👀
While it’s hard to believe, Porsche did their first auction back in 2021 and Lamborghini in 2022. 🤯
In 2023, Mercedes joined the cool kids club by launching their own NFT collection. 😎
In today’s piece, we’ll explore how three of the biggest car manufacturers in the world joined the web3 space by launching NFTs, and more importantly, why they did it…
Comparing the three to determine a ‘winner’ is almost impossible. They’re not only different, they all had different approaches when they joined this space.
So today, our goal is to find a blueprint that guides brands on how to join web3.
Keep in mind that this won’t be a one-size fits all. However, it will give some clarity over why, how and when (if ever) to start experimenting.
But let’s first explore what each of the 3 brands did, and how their actions performed.
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Mercedes NXT
Mercedes first announced their web3 endeavors by announcing the launch of their new Twitter account: Mercedes-Benz NXT, an account aimed for interacting with their web3 community.
Then, on the 7th of June, Mercedes announced the drop of their Maschine NFTs.
Mercedes-Benz pioneered its entry into web3 with "Maschine", a unique series of 1,000 NFT tokens.
They cleverly collaborated with the esteemed Fingerprints DAO, leveraging their profound web3 expertise, instead of reinventing the wheel in-house. Kudos!
In a stroke of branding intelligence, they entrusted the creation of this digital artwork to the celebrated artist Harm van den Dorpel, renowned for his innovation.
By combining their iconic brand identity with experienced partners and cutting-edge technology, Mercedes-Benz has showcased a forward-thinking approach to web3 and social media engagement.
The launch of their NFT was done through a Dutch auction, aka a fancy way of saying “we’re initially selling them for millions and if we really have to stay the whole night for just a few bucks, we definitely will!”
The auction started at 2ETH, but the interest was about 80% lower than expected.
The 1000 NFTs minted went for an average price of 0.34 ETH, resulting in $410,652 raised.
Porsche 911
Porsche dipped their toes into web3 in 2021 (crazy, right?) when they auctioned a 1/1 design sketch of their iconic 911 model on Superrare for 30 ETH.
https://superrare.com/artwork-v2/tradition--vision-26657
On January 25 of 2023, Porsche announced their 911 NFT collection. This was supposed to include 7500 NFTs, which were supposed to sell for 0.911 ETH each.
When Porsche realized that there’s no chance for them to mint out, they decided to stop the mint.
At the end, there were 2363 NFTs minted, with 5137 failing to sell.
Nevertheless, Porsche managed to raise a whopping $3.5 Million (2000 ETH).
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While raising millions might sound like a success, this wasn’t necessarily the case.
Porsche's leap into NFTs didn't quite land. They had to stop the mint, suggesting that things didn't go as planned.
Overall, it felt like they just handed the task off to a hired agency, and the lack of effort showed.
To make matters worse, they tried to sell these NFTs for almost 1 ETH in a tough market.
This move didn't sit well with NFT holders, highlighting how crucial it is to tune in to the market sentiment.
The point of this report isn’t to suggest how Porsche could’ve done a more successful launch. For that, we’ll let our frens at Jump tell you.
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Lamborghini’s Epic Road Trip
Lamborghini made quite the splash when they first ventured into the world of NFTs. In January 2022, they introduced the Space Key NFT.
Then, in April 2022, they raised the stakes by incorporating a unique 1/1 NFT into the auction of their last Aventador LP 780-4 Ultima, an auction that fetched an impressive $1.6 million!
The launch was wrapped around a Road Trip narrative, making it a unique journey through the digital space.
Unlike Porsche and Mercedes, Lamborghini chose to announce their NFT using their main Twitter account, connecting directly with their dedicated fanbase
Their minting process was an eight-month event, spanning from August 2022 to March 2023.
Each month, for four days, they minted new NFTs. These included three regular mints priced at $193 and one special "rare" mint at $1,963.
In terms of outcomes, a total of 47616 tokens were supplied, with 2676 minted over the course of the event.
Lamborghini made a total of $1M through mint proceeds.
The Blueprint of Launching a Collection as a Big Brand
Now that you’re up to speed about how Porsche, Lamborghini and Mercedes dipped their toes into web3, let’s see what the blueprint is for others who are waiting on the sidelines….
The following section will include 10 key points that you as a brand need to think about.
Also, if you’re a web3 consultant or are looking to become one, here’s what you need to tell your client.
P.S- The following section is for PROs only… If you’re not one already, make sure to upgrade your subscription today. Let’s go 👇