Nobody bid on chevrolet's first foray into NFTs, despite offering a one of a kind Corvette Z06 in an exclusive color. Now what?
SuperRare, the crypto-focused organization responsible for the auction which had sold xsullo's artworks successfully before, announced at the end of the auction that bidding would be extended for 24 hours as potential bidders had"missed" their window, citing an event in NYC as a distraction from their auction. Apparently nobody ever bid, and now the car, the existence of which was contractually tied to a successful auction, will no longer be assembled by Chevrolet.
It's possible the auction process was simply too complicated for anyone to bother with, as it required an e-wallet full of Ethereum cryptocurrency and a SuperRare account to bid. The 206 ETH coin opening bid was valued at around $240,000 to $250,000 at the time of the auction, which isn't necessarily a bad deal for a brand-new, one-off Corvette Z06 with an exclusive paint finish. It very likely could have sold for that much cash at a regular auction, we'd wager.
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