Bloomberg Tax
July 15, 2022, 4:35 AM

After Corvette Failure, Automakers Tread Carefully Into NFTs

Hannah Elliott
Hannah Elliott
Bloomberg News

In June, Chevrolet was hoping to cash in on the cryptocurrency bonanza that saw a non-fungible token made with Steve Aoki and packaged with the last Lamborghini Aventador LP 780-4 Ultimae Coupé ever made sell for $1.6 million. So it offered a car-themed NFT of its own.

Chevy paired a digital image of a Corvette Z06 in a Blade Runner-style cityscape, with a real-life 2023 ’Vette custom-painted to match the artwork. The Detroit automaker’s acid-green duo failed to receive a single bid—even after the sale was extended by a day. Trevor Thompkins, a spokesperson for Corvette, characterizes the endeavor as “very educational.”

Chevy will eventually ...