Auto Giants Enter The Crypto Space

Auto Giants Enter The Crypto Space


Tesla is not the only one to get down in history as a company that has entered the crypto industry. Now General Motors and Porsche can proudly announce that they are taking part in the adoption of cryptocurrencies.

General Motors is ready to accept payments in BTC

If someone is saddened by the news that Tesla has stopped accepting bitcoin payments, then don`t be sad. As the popular wisdom says: a holy place is never empty, and General Motors looks great in this place.

General Motors brings together many brands, including Buick, Cadillac, Chevrolet, Daewoo, GMC, Holden, Hummer, Opel, Pontiac, Saturn, Saab, and Vauxhall.

GM also makes trucks under the Chevrolet and GMC brands.

In an interview with CNBC, General Motors CEO Mary Barra, of course, was asked about the Bitcoin (BTC) payment that Tesla integrated in March 2021 before withdrawing them for environmental reasons.

The CEO of General Motors first spoke about the prospects of the largest automaker in the United States, and then replied that the company is ready to accept payments in Bitcoin, if there is demand from its customers.

Mary Barra, CEO of General Motors (NYSE: GM), said:

“Nothing prevents us from doing this. We will focus on our customers. General Motors wants to make buying and owning as easy as possible”.

However, when Tesla announced in February 2021 that it would accept Bitcoin for payments, the GM CEO said that her company was not interested in doing the same.

Why did Mary Barra change her mind about this? Since Tesla CEO Elon Musk has indicated that his company can resume paying in BTC if it uses at least 50% renewable energy in Bitcoin mining?

Gradually, the use of Bitcoin and cryptocurrencies as means of payment is becoming more widespread, including among car manufacturers, who are increasingly turning to electric vehicles.

Earlier it was reported that Elon Musk also began working with North American Bitcoin miners to make mining of BTC more environmentally friendly. True, although the North American miners began to fuss about this, but there was no smell of a mask there.

Perhaps, after some time, Tesla will resume paying in Bitcoin, so that the car manufacturer does not lose its ESG status, which allows it to receive carbon credits, and not when the mining Bit will have a more eco-friendly status,

Porsche launches the NFT platform through its subsidiary Forward31

Although this is not the adoption of the BTC as a payment method, the NFT sector continues to attract major players from all areas of activity, and the car manufacturer Porsche is entering this promising market.

In the official announcement, Porsche details the launch of the Fanzone platform through its subsidiary Forward31. It is an NFT collectible card platform where users can buy and trade digital assets.

Fanzone will allow users to purchase, exchange, and even play with their football collectible cards, of course, which is similar to the concept of the French game Sorare.

Each card represents different players with their unique characteristics and information, and these cards are digital assets based on the Lukso blockchain.

In a booming sector, NFT cards can have crazy prices, like Kylian Mbappe’s NFT card, which sold for $65,000 at the end of 2020.

The sports car manufacturer intends to capitalize on this new unexpected opportunity by entering “a new business space in online gaming and digital entertainment”.