#97 | Renault's NFT Sneakers Tap Into Racing Culture

Estimated Read Time: 8 minutes

Hey friends,

Wonderful to have you join us! In today’s edition, we have some specially curated stories that cover a huge range of topics from Renault’s physical NFT shoes, King Charles’ Coronation and NFT ticketing. Let’s jump into it!

One of the more surprising industries taking a liking to Web3 has been automakers with these “car companies” getting pretty creative with how they can utilize NFTs. At Morning NFTea we haven't shied away from these global brand superpowers progressing the Web3 world with the likes of Delorean using NFTs to reserve production slots, Porsche releasing enthusiast NFTs, BMW launching an NFT loyalty program or even KIA using NFTs to fund 22,000 pet homes, but next in line to put a spin on what to expect from Web3 is multi-million car producer Renault and their 50th birthday launch of physical limited-edition sneakers linked to NFTs.

Renault launching shoes probably isn't the first thing to come to mind for a birthday launch, let alone an NFT collection, yet it truly exemplifies the limitless opportunities that Web3 is opening up for brands and their ever-growing commitment to creating more meaningful connections with their customers. Renault’s Racing Shoe5 series pays tribute to each of the five iconic R5 Turbo models with the final sixth shoe design coming straight from the Renault community itself. Each shoe will be packaged into 960 “digital twin” NFTs that will be available to mint on May 15 for about $300 USD.

In the announcement, Renault says “The RACING SHOE5 collection gives Renault enthusiasts an innovative new way to engage with their favorite auto company… the NFT drop is a unique opportunity for brand fans to get their hands on an exclusive pair of custom-designed sneakers and enjoy an immersive, 3D experience.”

This so-called “immersive, 3D experience” comes from the NFTs granting exclusive access to metaverse-like virtual worlds that also give real-world benefits like access to the company’s Research and Development Center that lets you meet up with Renault designers. Renault is embedding a NFC chip into the physical shoe which links to the “digital twin” NFT collection, from there you can access a digital passport serving as your certificate of authenticity as well as providing information on the shoe's composition, materials, and production background.

Each edition of Morning NFTea constantly shows us the unthinkable ways that NFTs continue to be utilized, and a leading carmaker using them to facilitate celebratorily shoes that help foster an enthusiast community is a pretty cool way to race into the Web3 world.

There's a good chance you're from the United States and so there’s a chance may not be up to speed with the coronation of King Charles over in England, but our allies over the ditch crowning a new King is a pretty monumental occasion that has been commemorated with one of England’s leading Newspapers launching free NFTs. “The Oath” NFT open edition could be claimed by using a QR code printed on the newspaper using the Nifty Gateway that offers a seamless way to mint NFTs with just your email. It’s this free NFT easily handed out to the masses that gives us a glimpse into the new age of digital flyers and postcards that were often previously used to commemorate events.

Artist Trevor Jones has been embracing art and technology for over a decade and used this event to create a digital representation of the St Edward’s crown, the paramount symbol of the Crown Jewels crafted from gold and adorned with 444 precious and semi-precious stones. Foreshadowing the 444 limited edition “The Crown” NFTs that can also be unlocked from holding your free “The Oath”.

Although it’s easy to think of these NFTs as being throwaways or on par with mass commemorative gifts you would get in the real world, in our early stages of Web3 it’s important to consider the step that initiatives like this have on mainstream adoption. It’s safe to say this was a roaring success with over 20,000 collectors so far, and for a lot of people owning a digital piece of art that is permanently saved in the blockchain is a pretty convenient way to mark this very special and monumental event.

When it comes to the simple explanation of NFTs being an authenticatable digital item, event ticketing quickly gained ground as an excellent use case after Web2 digital ticketing infrastructure has proved troublesome after cases like France claiming the Champions League final had up to 70% counterfeit tickets. In yet the latest example of the growing acceptance of NFT ticketing we have leading Albanian music event Unum Festival and their new multi-year partnership with NFT-TiX to help facilitate the future of ticketing.

NFT-TiX, built on the Ethereum blockchain, connects ticket sellers and buyers directly, eliminating intermediaries and offering a secure, transparent way to purchase tickets for various events. When it comes to the festival in question Unum is not only utilizing NFTs for a more secure ticketing infrastructure that makes it easier for all parties involved, but these one-of-a-kind passes purchasable through NFT-TiX enable new experiences and lifelong collectibles for event-goers.

CEO of Unum Festival Kushtrim Sahiti said “Unum Festival has consistently set itself apart with its commitment to curating unforgettable experiences for its attendees. By embracing NFT-TiX's revolutionary ticketing solution, they continue to push the boundaries of what a music festival can achieve. Get ready to immerse yourself in the magical atmosphere of Unum Festival, where the power of music and cutting-edge technology come together to create an unparalleled experience"

The partnership between NFT-TiX and Unum Festival is a leading example of the innovative solutions the ticketing industry needs to meet the demands of today's eventgoers in an ever-increasingly digital world. When entering the venue you won’t notice any difference while scanning your ticket, with the behind-the-scenes technology seamlessly working to help eventgoers enjoy their weekend whether or not they have experience on the blockchain.

Last year we covered America’s biggest ticketing company Ticketmaster creating a new “NFT ticketing tooling” department, and with festivals like Unum and our previous coverage on EXIT festivals partnership with NFT-TiX, its easy to imagine a world where everyday use of NFTs become increasingly popular.

Oh boy, where do we start. How about Elon Musk tweeting out a Milady meme?

26.8 million impressions, 213k likes. And the spread of this “neo-cute” NFT which has been associated with rumors of racism, sexism and pedophilia at times.

Of course, the strength of the Milady community is that it absolutely leans into all of these rumors and counter-attacks by doing things like… switching to Azuki PFPs and then tweeting racist jokes to smear the Azuki brand.

Of course, some of the Azukis change to a Milady PFP and feed it right back.

In other news, Coinbase and $PEPE are at war with Coinbase refusing to list the token (now slowly dropping in value) because of “racist concerns” and the $PEPE team firing back with a #DeleteCoinbase campaign.

If there’s one thing that’s certain — it’s that people really like their bags and will go to great lengths to protect them.

All in a day’s worth for Web3.

Big thanks for joining us today, we hope you enjoyed this specially curated edition and cant wait to be back with the next Morning NFTea, take care!

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DISCLAIMER:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.#97