Pininfarina Drives Its Way Into NFTs With Iconic Modulo Car Design; Bitcoin Falls

Italian car design firm Pininfarina, whose 76.06 per cent stake was acquired by Mahindra Group, has joined hands with RM Sotheby’s to auction a unique NFT collection from May 24-26, 2022. These NFTs are inspired by actual design drawings of the Pininfarina Modulo, a bold looking car from the 1970s, whose concept was far ahead of its time.

According to the company, there will be five Modulo NFTs, each designed to amalgamate art with experience, and provide buyers with exclusive benefits. “The NFTs are called Modulo 70, 80, 90, 00, and 10, in respect with their corresponding decades,” reads Sotheby’s press release. 

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These NFTs will cover the five decades since the creation of the Modulo, and will contain a unique video animation of the car along with soundtracks that represent each era of the Modulo heritage.

Anand Mahindra, chairman of the Mahindra Group, took to Twitter to announce the NFT collection. “Through an online auction by Sotheby’s, 24-26 May @PininfarinaSpA will offer the 1st ever Pininfarina NFT Collection dedicated to the Modulo. The 2nd automotive NFT offering in the @MahindraRise group of companies. We like to stay ahead of the curve…” his Tweet read.

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Elsewhere, GuardianLink.io Web3 start-up incubator will help to transform Web2 gaming companies into a Web3, so that they can unlock the phenomenal potential in this space. The company said that they have aimed to incubate 10 Web3 companies by the end of the year. 

Commenting on the launch, Arjun Reddy, co-founder, GuardianLink, said: “Polygon put India on the Web3 infrastructure map. GuardianLink aims to carry the torch further in the NFT gaming and commerce space. We believe in sharing our expertise, technology, and even the learnings from our mistakes with new entrants. This will help us build the culture of Web3 in India.”

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 1.99 per cent in the last 24 hours, and it was trading at $29,918.10 at 5:30 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 44.33 per cent, down by 0.09 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $2,037.96, down by 2.25 per cent, while Binance Coin (BNB) decreased by 1.32 per cent during the same time period and was trading at $302.94. Solana (SOL) was down by 3.34 per cent to $54.37, while Cardano (ADA) was down by 3.04 per cent to $0.5631.

Meme Coins

Dogecoin was trading at $0.08865 on Coinmarketcap.com at 5:30 p.m. IST, and was down by 1.00 per cent. Its rival, Shiba Inu, was down by 1.22 per cent, and was trading at $0.00001232. Samoyedcoin was up by 4.99 per cent, and it was trading at $0.006382, while Dogelon Mars was down by 2.39 per cent, and it was trading at $0.0000005051.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.29 trillion, a decrease of 1.69 per cent in the last 24 hours, while the total crypto market volume was $79.08 billion, a decrease of 5.13 per cent.

Bitball Treasure (BTRS) was the biggest gainer, gaining 710.87 per cent. It was trading at $19.54 at 5:30 pm IST, according to Coinmarketcap. In contrast, Dogecolony (DOGECO) witnessed the maximum loss and fell by 82.21 per cent. It was trading at $0.00000001705.