Chevrolet’s first NFT auction closed without a bid on Jun 24 even though it would have come with a real-life version of the custom-coloured Corvette Z06 depicted in the NFT art. The NFT depicts a lime green Corvette Z06 with a cyberpunk landscape.
The artwork was created by xsullo and the auction of the NFT was hosted on SuperRare from Jun 20 – 24. After the auction closed on Jun 24, it was reopened for another 24 hours, with SuperRare tweeting “due to the craziness of NFT.NYC, we had users’ express disappointment they missed the Corvette Z06 NFT artwork auction window.”
However, that turned out to be untrue as the auction closed again on Jun 25, 5pm ET, with zero bids. If the auction was a success, the winning bidder would have walked away with not just the NFT, but also the physical one-of-one mint-green Corvette Z06.
The automaker opted to only accept bids through Ethereum, a cryptocurrency that has been volatile in recent weeks.
In response to the failed NFT, they quoted a Chevy spokesperson as saying: “Our first step into Web3 has been educational, and we will continue to explore ways to leverage technology to benefit our customers”.
While this is ludicrous, pointing to the volatility and insanity of the NFT space, the proceeds of the Chevy NFT sale were reportedly going to DonorsChoose, a non-profit that allows individuals to donate directly to public school classroom projects. There are real consequences for all of this silliness.
This news is published and verified by the NFT News media team.
