Renault NFT collection to celebrate Renault 5 revival
Production lasted until 1996 over two generations, including the monstrous Turbo.
The Renault 5 was revived as an EV in 2021. It perfectly channelled the spirit and style of the original – but as a thoroughly modern car. With the new 5, Renault has revived a much-loved car without falling into the lame retro trap so common to revived models.
To celebrate the original Renault 5 and its revival, Renault has launched the genesis 5 NFT collection, consisting of 1972 generative 3D NFTs split into distinct rarity levels. The cars featured here are the R5 Electric, the Turbo, the La Car Van and the R5 TL.
The most exclusive in the collection is the “R5 Electric”, with only a hundred in circulation. These NFTs give their holders a chance to win raffles for car tests and trial experiences, as well as opportunities to interact with Renault designers, explore prototypes, and get a behind-the-scenes look at car production.
There are 160 “R5 Turbo ” NFTs, which entitle owners to free mints for Renault’s next drops, 450 R5 La Car Van tokens and 1,262 R5 TL tokens. Holders of the latter can enter lotteries for a VIP tour to Renault’s Atelier in Flint, plus a free exclusive party at the Retromobile Show.
Many readers will by now wonder what this actually is.
These NFTs are a major foray by Renault into the world that links the physical cars and the digital world. The digital world is rapidly becoming a major part of our lives, whether in work, personal life or leisure. How many times a day do you check your smartphone? Exactly. And this is interaction is increasing.
There are several digital concepts to unpack here.
Let’s start with the broad digital environment – the transition into Web 3.0. Web 1 was looking at pages, Web 2 was interacting like with Facebook and Twitter, and now Web 3, while still developing, is far more dynamic and decentralised, not limited to apps like Facebook. Renault has seriously embraced Web 3.0 in 2021, both in how their cars interact with the rest of the world and how the company engages you, their customers.
NFTs (Non-Fungible Tokens) is a way to own art in the digital age. There are billions of copies and digital images of the Mona Lisa, but only the owner of the real painting can sell it. So with digital. NFTs, because it is so new and misunderstood, were subjected to lots of chancers trying to sell any pics as NFTs, but once you cut through the clutter, properly created NFTs have real value and can be bought or sold and increase in value.
Renault created generative 3D NFTs, which means the same image can be ‘painted’ in many different ways and viewed and rotated in 3D.
Blockchain guarantees the integrity of your NFT. This is a technology that indelibly tracks the movement of both physical and digital objects. Blockchain only moves in one direction, so you cannot erase a movement or transaction once it has been recorded. It is used in logistics, manufacturing, and of course NFTs.
This is the tale of Renault’s foray into the digital future. You can keep up with this dynamic brand by following us on social media.
