DeLorean Launches On-Chain Car Marketplace With Patrick Stewart

Renowned British actor Sir Patrick Stewart has teamed up with the DeLorean Motor Company to launch a car marketplace on the blockchain.

Based on the Sui network, The DeLorean Marketplace is designed to modernize the process of reserving, managing and reselling high-end cars.

DeLorean shot to fame back in the 1980s, when the company’s DMC-12 car was featured as the iconic time-travel machine in the “Back to the Future,” films—but the company hasn’t manufactured a new vehicle in more than 40 years.

All of that is about to change as it unveils the Alpha 5 EV, bringing its iconic gull-wing doors into the 21st century.

Build slots for the hotly anticipated car are going to be tokenized, meaning they can be traded between users.

“A new frontier awaits…”

Stewart tweeted a dramatic, slickly produced 60-second spot to promote the Alpha 5, declaring, “A new frontier awaits…”

In the video, the “Star Trek” star said, “We find ourselves standing before the evolution of automotive science, where innovation meets an icon.”

DeLorean’s chief brand officer Cameron Wynne said the company’s embrace of blockchain is a natural fit, as its brand stands for “vision, rebellion and futuristic innovation.”

In a press release shared with Decrypt, Wynne said that DeLorean’s new on-chain reservation platform, “advances our commitment to transparency and security, giving our community direct access to the future of vehicle ownership.”

Image: DeLorean Labs

The blockchain will also be used to deliver a transparent, immutable ledger for each new DeLorean rolling off the production line, enabling buyers in the resale market to access authenticated data relating to its history and performance.

A native token called $DMC is set to launch at a later date, enabling holders to stake and earn rewards.

DeLorean Labs’ Web3 ambitions

The new marketplace is the brainchild of DeLorean Labs, a dedicated Web3 division, and the company has ambitions to roll out its marketplace model to other industries who would benefit from on-chain solutions.

Build slots are available to reserve at marketplace.delorean.com in NFT form and can be purchased using USDC, one of the world’s best-known stablecoins. Issued by Circle, the digital asset is pegged on a 1:1 basis with the dollar.

Image: DeLorean Labs

Each slot costs $2,500, with the fee acting as a credit toward the cost of the Alpha 5 EV once it’s produced and delivered. Executives say it doubles up as a “ticket to owning a piece of DeLorean’s future.”

Build slots with a lower number carry a higher priority for earlier delivery, meaning they could attract a premium in the future.

Image: DeLorean Labs

Once cars go into production, NFT holders will also be able to customize their vehicle—and have their say on everything from the vehicle’s color to its powertrain.

DeLorean said that intelligent, intuitive human design and craftsmanship are at the heart of its new vehicle, with builds set to commence at a later date.