Lloyds Auctions to offer NFTs alongside real Ford Falcon GTHO Phase III | The Islander


In a world first, Lloyds Auctions will offer NFTs alongside the sale of the “physical” classic Aussie muscle car.

And just one of those NFTs could sell for more than the original car was worth in 1971.

The Ford Falcon GTHO Phase III depicted in those artistic representations on the blockchain is expected to break Australian auction records tomorrow, September 25.

Lloyds Auctions chief operating officer Lee Hames said the ‘physical’ Ford Falcon GTHO Phase III in Yellow Glo was receiving a lot of attention across Australia.

The car was expected to sell for a high 7-figure amount come auction day, breaking a record for the most expensive road registerable Australian classic, he said.

NFT SALE: The NFT of the Ford Falcon GTHO Phase III in Yellow Glo developed by Blockstars Technology. Photo: Lloyds Auctions

NFT SALE: The NFT of the Ford Falcon GTHO Phase III in Yellow Glo developed by Blockstars Technology. Photo: Lloyds Auctions

And for the first time, Lloyds will offer NFTs, or non fungible tokens issued and verified through blockchain technology, coinciding with the physical auction.

According to its website, Blockstars Technology is one of the leading Australian all-in-one blockchain technology company created by passionate and highly skilled group of blockchain enthusiasts.

It’s developers have experience in leading blockchain frameworks including Hyperledger Fabric, Ethereum and R3 Corda.

Lloyds Auctions meanwhile is excited about the future.

“Not only is this going to break a record, but we will also be setting a world first for an auction house to offer blockchain-verified classic cars to the public with an exact digital replica of the same Phase III in Yellow Glo expected to sell for many thousands of dollars,” Mr. Hames said.

“We are very excited to be taking lead on this trending blockchain technology that Blockstars Technology have created for Lloyds.”

An NFT is an item of value stored on an internet technology called blockchain.

This certifies that the digital asset is unique and provides irrefutable proof of ownership.

“The digital blockchain classic car auction has been up for only two weeks and already bids are far exceeding the original 1971 retail price of just over $5000,” Mr. Hames said.

“We have already received interest from some collectors of cars and art around the country who are excited by the opportunity in this first edition release.

“Based on the prices and enquiries we are seeing on this auction already, we expect digital classic cars to be the next big trend in collectable art.”

This Ford Falcon GTHO Phase 3 verified blockchain NFT art collection is an artistic representation of the exact car with the same options as they were sold off the showroom floor in the early 1970’s.

Ford Falcon GTHO Phase 3’s are highly considered as the pinnacle of Australian classic cars and have consistently increased their value over their life span since its release in 1971 and has broken records with Lloyds selling several for over $1,000,000.

“We really see the prosperous future in Blockchain technology and expect it to have a massive impact on art, cars and also supply chain management,” Mr. Hames said.

It is going to be a massive weekend of record-breaking auctions this Saturday and Sunday.





Read More

spot_imgspot_imgspot_img

Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here

spot_imgspot_img