As other car manufacturers such as Porsche drive down the NFT highway it would seem that Renault is also ready to take the plunge. The new genesis NFT collection launched in the hopes of bringing together crypto enthusiasts and car lovers.
The genR5 collection pays tribute to the genesis of the R5 which was launched in 1972, which also is the exact number of NFTs released for the collection. These NFTs will resemble short videos which are based on four models of the Renault 5. 100 electric Renault 5 NFTs, 160 Renault 5 Turbo NFTs, 250 Renault 5 Le Car Van NFTs and 1262 Renault 5 TL NFTs.
Once a purchase is made one of the NFTs is randomly assigned to the buyer who will then be able to reveal which NFT they have. These are intended to all possess their own perks including access to exclusive content or even an invitation to private events. Buyers gain the ability to become a patron of the GM5 social and solidarity initiative and take part in the co-creation of exclusive merch such as hoodies and skateboards.
Renault’s Global Chief Marketing Officer, Arnaud Belloni commented that “Joining the R3NLT community is tantamount to entering into a singular relationship with the brand, creating and offering new experiences to all enthusiasts. And there is no better way of starting than with a collection of NFTs that pay tribute to the storied Renault 5”.
This first NFT sale took place on December 15th with the website now stating that it is sold out, which would mark a success for the brand’s very first NFT drop. Given that an entire Web3 platform has been created, it may be that Renault intends to dive further into the space of Web3 and NFTs in the future, so for those who missed out this time, keep an eye on the R3NLT website.