Porsche believes that non-fungible tokens (NFT) – unique digital assets stored on the blockchain – can effectively be used for several purposes, from holding events to building communities.

Why it matters

Brands that experiment with innovative technologies like non-fungible tokens (NFTs) need to consider how they might build lasting value, and not just produce another commoditized digital piece of content.

Takeaways

Earlier this year, Porsche sold 2,363 non-fungible tokens based around its iconic 911 sportscar. At SXSW 2023, Lars Krämer, the brand’s manager of innovation and methods, outlined its proposed use cases for this kind of digital output.

• Luxury:Brands...