The Alfa Romeo Tonale PHEV presents its NFT and all the advantages that go with it
Announced earlier this year, the Alfa Romeo Tonale PHEV model will launch with a non-fungible token (NFT) collection. The NFT will record information about the battery life and service history of the car. This data will allow the company to identify areas where the vehicle could be improved, as well as how to make the most of the different components to improve overall performance.
The reasons for Alfa Romeo’s adoption of NFT
There are several reasons for this innovation. In the context of a used car market, the data recorded on the blockchain can prove the authenticity of the product. For example, people who can confidently say that they have a complete history of their car’s maintenance and performance information may be more likely to sell their car. Better still, they might sell it at a higher price.
Alfa Romeo is now looking to the future. Building a reputation as a producer of high quality electric vehicles will take precedence over the big sales targets. This will become more evident in the coming years with the move to a fully electric range.
According to Daniel Guzzafame, product manager at Alfa Romeo, quality is their measure of success. So it’s not just about sales. The most important thing, he says, is to always remain reliable and credible in case of change.
Famous Alfa Romeo owners and enthusiasts include Sophia Loren, an actress who has been seen driving several Alfa cars over the years, including a Giulietta Sprint. There is also the American fashion designer Ralph Lauren, who owns a rare 1938 Alfa Romeo 8C 2900 Mille Miglia. So it is clear that the old Alfas still retain their value. Despite this, Alfa Romeo is aiming for innovation and the application of advanced digital technologies in the future.
The solution to the most common problems of modern car manufacturers
However, battery-powered vehicles differ in many ways from those powered by internal combustion engines. The problems that an electric vehicle can encounter can be catastrophic for a careless industry. Also, the huge loss of power that can result from a short circuit remains the greatest fear of contemporary automotive designers.
In reality, automotive engineers are only as good as the data they use to create new cars and overhaul old ones. This is where an NFT protected by blockchain technology can be very useful. But how exactly?
If enough Tonale PHEV owners provide their NFT-protected performance data, Alfa Romeo is likely to have clearer knowledge of its products’ performance. Of course, the company aims to share this performance data only with the owners’ consent.
Even after being acquired by Stellantis, the company that also owns Jeep and Maserati, Alfa Romeo insists that NFT technology will remain exclusive to Alfa Romeo vehicles for the foreseeable future.
Alfa Romeo’s goal
The Alfa Romeo Tonale, which shares a foundation with the Fiat 500X, will represent the top of the Stellantis range. It will be one step above the Peugeot 3008, a vehicle that, let’s remember, was still the fourth most popular model in France in 2021.
Alfa Romeo is relying on cutting-edge tools and technologies to attract the masses. It claims that its NFT digital certificate is a first in the automotive industry and will allow private and unalterable tracking of the car throughout its life.
This is a huge benefit to retailers (such as leasing companies), who will be able to assure their customers that the car has been properly maintained using NFT technology. Since the NFT saves and records data in the cloud, they can easily prove the authenticity of the product. Thus, the NFT accreditation will give owners and dealers an extra level of confidence in the used car market. At the same time, it will increase buyer confidence.
Brands like Porsche have already entered the NFT space, but none has taken it as far as Alfa Romeo. As NFT technology is still in its infancy, this is a risky commitment for a car manufacturer. However, Alfa’s strategy of implementing NFT technology is smart and can change the industry in the long run.