Alfa Romeo Introduces NFTs Into Its Latest Hybrid SUV

Alfa Romeo unveiled its latest model, the Tonale, on Tuesday. This appealing new crossover will be available in the United States with various powertrain options, one of which will be the brand's first-ever plug-in hybrid.

Most of the Tonale headlines, however, will likely center on the vehicle's bundled non-fungible token, which will reportedly use blockchain to manage servicing records and accident histories.

Non-fungible tokens (NFTs) are one-of-a-kind digital assets that cannot be replaced. They are validated and stored using blockchain technology, making it difficult or impossible to manipulate, hack, or cheat the system.

NFTs have proven popular for digital artwork, but they may also be used for music, website domains, and now vehicles. Tonale is the first vehicle to use a non-fungible blockchain token.

Tonale is the first vehicle to use a non-fungible blockchain token. "NFTs are based on the same distributed information logic that safeguards your Bitcoin," said Francesco Calcara, head of Alfa marketing and communication, during a press conference. "It keeps a record of all data on the blockchain."

The Italian automaker is not saying which blockchain it's using to mint these NFTs. According to the firm, the car's NFT will issue a certificate based on maintenance data records, but only for service performed by certified dealers.

The integration is the most recent example of the booming "useful" NFT market, including technology applications prioritizing function over form.

A real estate company minting a housing title as an NFT, healthcare organizations working on encrypting and transmitting medical records as NFTs, and tokens functioning as proof of ownership for tangible objects are some more recent relevant NFT examples.

The reveal from Alfa Romeo also mentioned that the Tonale would be available in three different trims — Sprint, Ti and Veloce. Alfa isn't ready to tell us how much the Tonale will cost, but it does say that cars will arrive in North American dealerships in the first quarter of 2023.

During the same press conference, Alfa Romeo declared that it would sell entirely electric automobiles by 2027. In recent years, the company has struggled with sales, selling fewer than 19,000 units per year in each of the last three years. On the other hand, Mercedes-Benz sold over 60,000 units in the fourth quarter of 2021 alone, according to BusinessWire.