Car keys for NFTs

Auto makers are looking for new ways to reach Gen Z – and some think non-fungible tokens are the answer.  

Front seat for Gen Z  

How do you make your business more attractive to a younger, tech-savvy generation? According to car manufacturers, NFTs are a way to win the hearts and minds of Gen Z. By getting stuck into non-fungible tokens, brands like Hyundai are hoping to be front and center of the new crypto-powered world.  

Hyundai started dishing out NFTs on Discord and Twitter on April 15, and has announced further plans to open an official NFT website in May. According to its global chief marketing officer, the car brand wants to double down on a “commitment to innovation in both the real world and in the metaverse”, as this is what is deemed appealing by a new generation of car buyers.  

Where we’re going, we don’t need roads  

Hyundai isn’t the only one hopping on the NFT hype, falling in line with the likes of Acura and VinFast in exploring how the blockchain can appeal to younger audiences. Acura offered the first 500 customers of its new car an NFT designed by artist Andreas Wannerstedt, while VinFast is throwing in NFTs with each new car sold.  

With even luxury brands like Lamborghini getting in on NFTs, the flags are down and the race is on to claim the allegiance of Gen Z. And while other car makers hold back and watch the race unfold, sitting in the bleachers may well see them left in the dust.