BMW Partners With Coinweb to Develop Blockchain-Based Vehicle Financing Automation and Loyalty Program in Thailand

December 31, 2022 Bitcoin.com

BMW taps Coinweb and BNB chain for blockchain loyalty program

December 29, 2022 Coin Telegraph

BMW

BMW will integrate decentralized tech in two phases- first in its daily operations to eliminate complex paperwork, and the second phase would see the development of a customer loyalty program.

German car manufacturer BMW plans to integrate blockchain technology into its daily operations and create a blockchain loyalty program for its customers in Thailand. The popular carmaker has onboarded blockchain infrastructure firm Coinweb as its decentralized architecture provider and BNB Chain for settling transactions.

The integration of blockchain technology into BMW’s workflow will take place in two phases. First, the decentralized tech will be integrated into BMW’s daily operations with the goal of automating time-consuming manual processes and streamlining the company’s automobile financing services.

The second phase of the project would see Coinweb develop a customized Web3 application for BMW’s customer loyalty program. The program will use a blockchain-based rewards scheme to incentivize BMW Group customers. A customer’s tier and status in the ecosystem will be determined by the loyalty rewards they have acquired via various actions.

Owners will be able to use their rewards to purchase goods and services from BMW as well as from a linked ecosystem in the future. Binance’s native BNB chain will be used to settle transactions.

Talking about how customers will be rewarded under the upcoming loyalty program, Coinweb CEO Toby Gilbert, told Cointelegraph that customers will be rewarded every time they have touchpoints with the BMW ecosystem, be it “buying a new car or they go for a service,” he explained further:

“Customers will be rewarded with loyalty points and they will be able to spend within the ecosystem. Our hope is that there will be a future global rollout but currently our partnership is for Thailand.”

BMW Thailand’s leasing head Bjorn Antonsson said that the firm has been actively monitoring the progress of decentralized tech and its various use cases over the years. Antonsson hoped that the integration of blockchain tech in their daily operations would eliminate the manual paperwork and contribute toward the company’s efficiency and transparency.

The interest of automobile manufacturers in decentralized tech is nothing new, and BMW has been involved with the tech since 2018. BMW first used blockchain technology to track its cobalt supply and ensure its products are being supplied using ethical practices. Apart from BMW, another popular German carmaker Mercedes has actively used nonfungible tokens and crypto coins as promotional tools.

Italian carmaker Alfa Romeo used blockchain tech to track car records, while Ferrari’s new deal has hinted at NFT integration as well.

Nifty News: Porsche 911 NFTs, BMW files Web3 trademarks, Baby Shark’s NFT game and more…

December 1, 2022 Coin Telegraph

Baby Shark

BMW and Porsche have both recently ramped up their own Web3 plays, while Baby Shark is dipping into the blockchain gaming sector, but just for kids.

Porsche to launch 7,500 NFTs for use in a ‘virtual world’

German luxury car manufacturer Porsche has suggested it will be significantly ramping up its Web3 efforts after unveiling an upcoming NFT project consisting of 7,500 customizable tokenized vehicles.

In a Nov. 29 announcement, Porsche stated that the NFTs will be launched in January, and users will be able to customize various aspects of the cars in relation to performance and appearance.

The NFT art itself is being designed by designer and 3D artist Patrick Vogel, with all pieces revolving around the famous Porsche 911 model.

Notably these virtual assets will be designed in Epic Games’ Unreal Engine 5, suggesting that gaming integrations are afoot.

The company gave a sneak peek into the project at the Art Basel conference in Miami on Nov. 30. While specific details have not been mentioned, the company noted that owners will be able to use the cars in the “virtual world,” most likely meaning some sort of Metaverse.

More broadly, Porsche suggested that it is looking to significantly ramp up its exposure to Web3 moving forward, with the announcement noting that:

“Digital art is just one aspect of Porsche’s Web3 strategy. The sports car manufacturer is working to integrate the potential of blockchain technology into existing and future processes and solutions.”

Porsche previously had a hand in launching soccer-themed NFT collectibles in June 2021 as part of a project called Fanzone, but now appears to be taking the tokenization of its cars more seriously.

BMW to get Web3 trademarks

Speaking of German luxury car manufacturers, BMW has reportedly applied to trademark its logo in relation to a host of Web3 products and services.

The move was highlighted by USPTO licensed trademark attorney Mike Kondoudis, who frequently shares news regarding Web3 trademark applications in the U.S. from major companies.

BMW outlined intentions for its logo to span across collectibles such as virtual clothing, footwear, headwear and vehicles, while also indicating plans for downloadable virtual goods such as online environments and games.

BMW is coming to the metaverse!

The company has applied to trademark its logo for:

▶️ NFT authenticated media + files
▶️ Virtual vehicles + clothing + footwear
▶️ Retail stores for virtual vehicles + clothing
▶️ Virtual environments
… and more!#NFT #Metaverse #Web3 #BMW pic.twitter.com/huO0RkiGWz
— Mike Kondoudis (@KondoudisLaw) November 30, 2022

Baby Shark’s Web3 arc

Content from Pinkfong’s massively popular children’s song/music video Baby Shark is set to be tokenized as part of a family-focused blockchain game.

Pinkfong reportedly penned a licensing agreement with Toekenz Collectibles to create and issue Baby Shark characters in a child safe digital environment.

Toekenz Collectibles is an NFT platform targeted at children aged 12 and under, and the focus of the game is to educate kids aged five to nine “about the trading economy of digital collectibles.”

The kids will also be able to customize the NFT art to their own liking, and even participate in a Tokenz DAO where they “can exercise democratic decision-making.”

This is not Pinkfong’s first dip into NFTs, Cointelegraph previously reported that the South Korea-based company launched a series of limited editions Baby Shark NFTs in December last year.

Deadmau5 rolling out music metaverse

A Web3 startup co-founded by popular crypto-friendly DJ Deadmau5 (Joel Zimmerman) is gearing up for the launch of a music and gaming focused Metaverse platform.

Announced at the Art Basel event on Nov. 29, the start-up known as Pixelynx stated that the Polygon-based platform will launch this week, and kick things off with an Augmented Reality (AR) scavenger hunt set on Miami Beach.

The firm’s CEO and co-founder Inder Phull described the AR scavenger hunt as a “Rock Band meets Pokémon Go experience,” in which virtual gaming features are merged with real locations on maps via smart devices.

Users who hold Deadmau5’s Droplet NFTs will gain early access to Pixelynx’s metaverse with the platform aiming to provide a host of virtual experiences for fans of particular musicians and artists.

More Nifty News

NFTs depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT marketplace OpenSea at the tail end of November.

On Nov. 30, decentralized exchange (DEX) Uniswap announced that users can now trade NFTs on its native protocol. The function will initially feature NFT collections for sale on platforms including OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX.

Bitcoin in Zimbabwe: Importing cars and sending money to family

June 21, 2022 Coin Telegraph

Africa

A young Zimbabwean Bitcoiner built out a business with Bitcoin — importing cars and sending remittance payments — when he returned to his homeland during the COVID-19 pandemic.

Bitcoin (BTC) is a tool for freedom and economic empowerment. For one young Zimbabwean, Ovidy, it turned his life around when he returned to his home country at the onset of the COVID-19 pandemic.

An entrepreneur who first learned of Bitcoin while living in the United States, Ovidy has since built a business with Bitcoin at its core. Below, Ovidy (center) is pictured with Paco the Bitcoin traveler (left):

Day 276
Obidy imports cars in Zimbabwe using #bitcoin pic.twitter.com/Y2TmZZX6Bv
— Paco de la India⚡ (@RunwithBitcoin) June 20, 2022

Ovidy imports cars using Bitcoin. “I really like to import BMWs,” he told Cointelegraph, as well as enabling peer-to-peer remittance payments to friends’ families in Kenya and overseas. In short, Bitcoin makes him hopeful for the future.

Ovidy told Cointelegraph that he “came across Bitcoin when it was around $10,000,” during the 2017 bull run. However, he didn’t invest “because I didn’t have any knowledge about it.”

“I thought that you could Bitcoin one day and have $500; the next day you have $1,000 and it goes up and up.”

He stacked some sats over this period, but it took a few years’ learning and small experiments tinkering with Bitcoin — such as using BitPay to pay for clothes on Amazon — before he could get to grips with the decentralized digital currency. However, it was no more than a hobby and an experience that was soon forgotten.

Jump to the dark beginnings of the COVID-19 pandemic in 2020, and Ovidy was obliged to return to Zimbabwe from the United States. In an unfortunate twist of events:

“I didn’t have anything to do when I came back to Zimbabwe. There were no jobs, so I considered foreign exchange (forex) trading.”

The forex account asked for him to deposit some Bitcoin and Ovidy remembered he had some “Bitcoin in an old Coinbase account.” He checked, and to his delight, the $500 he bought during 2017 and 2018 was worth more than $2,000.

A eureka moment, Ovidy immediately realized he could leverage Bitcoin for payments and investments. He could create work, and more importantly, a salary for himself. The Ovidy E-Wallet transfer hub was born.

*A flier for Ovidy's money transfer business. Source: Facebook*

He tapped into his network of contacts and began facilitating the import of cars from Japan. From BMWs to Toyotas to off-the-shelf Hondas, his Zimbabwe clients give him dollars after which he sends Bitcoin to Japanese car dealerships. Weeks later, the cars arrive. He explained:

“It is impossible for me to send dollars to Japan as the only way to do so is through banks. When something gives me $5,000 in Bitcoin, I send the Bitcoin to Japan almost instantly, and I already have the cash here and the transaction is confirmed. Bitcoin is a faster and safer process.”

The process would take more than two weeks and involve high commissions if it were done through banks, he added.

Ovidy takes a small commission on the sale of cars and balances the dollars he earns with a money transfer service that uses Bitcoin remittance in reverse. As dollars are in scarce supply in Zimbabwe, Ovidy receives Bitcoin from “family members across Zimbabwe,” or from friends’ families in Kenya or overseas, and sends the dollars he makes on cars in return.

*Two of the cars Ovidy imported recently, all paid for with Bitcoin. Source: Ovidy*

Ovidy told Cointelegraph that while Bitcoin adoption in Zimbabwe is growing, it’s not plain sailing. Many people “really don’t trust Bitcoin,” and there is a significant education gap:

“At first people didn’t appreciate Bitcoin because most people investing get scammed. Even me, I was scammed $500 when I was learning about Bitcoin! A convincing “invest company” asked me for money, and I didn’t realize.”

He mentioned that the trickiest part about Bitcoin adoption — particularly for older generations — is that it is not tangible. A friend of his, William Chui, built a “Bitcoin house, using funds from Bitcoin,” as “a testimony to prove to people that with Bitcoin you can actually be financially free.”

*Bitcoin House, built by Ovidy's buddy William Chui. Source: Ovidy*

While education remains a hurdle in the country experiencing hyperinflation, he is hopeful. “We start small and 10 to 15 years from now — and given that the younger generation appreciates Bitcoin — there will be a significant number of people adopting Bitcoin in Zimbabwe.”

BMW

Porsche to launch 7,500 NFTs for use in a ‘virtual world’

BMW to get Web3 trademarks

Baby Shark’s Web3 arc

Deadmau5 rolling out music metaverse

More Nifty News

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