In a world first, Lloyds Auctions are offering an artistic representation of a Ford Falcon GTHO Phase III classic as a verified 1st edition (NFT) Non-fungible token, which are already exceeding the original retail price of a showroom floor Phase III back in 1971.
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 auction has been up for less than 24 hours and already bids are exceeding the original 1971 retail price of just over $5000,” said Mr. Lee Hames, Chief Operating Officer for Lloyds Auctions.
Ford GTHO Phase 3's are highly considered as the pinnacle of Australian classic cars, this car art world first is an enthusiasts opportunity to own an artistic digital version of this iconic model.
The GTHO Phase III has consistently increased its value over the life span of its time since its release in 1971 and has broken records with Lloyds selling several for over $1,000,000.
“This is a world first for an auction house to offer blockchain verified classic cars to the public and we are very excited to be taking lead on this trending technology that Blockstars Technology have created for Lloyds,” said Mr. Lee Hames.
“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,” Mr. Hames continued.
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.
“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,” continued Mr. Hames.
It is going to be a massive month of record-breaking auctions, also on offer alongside a digital NFT version is an original 1971 Ford Falcon GTHO Phase 3 finished in Yellow Glo, 1 of 12 ever built. It is expected to achieve anywhere between 1.5 and 2 million dollars.