As the First Physical-Digital Twin Automotive NFT on Tuesday, May 11
The historic piece of movie memorabilia was purpose-built for the production of Fast & Furious 7 and is the only stunt car out of 10 produced that survived filming
LEWES, Del., May 06, 2021 (GLOBE NEWSWIRE) — RubiX, a premium NFT marketplace, today announced its collaboration with W Motors to bring NFT technology to the forefront of the exotic/collector/investment-grade car market with the launch of the world’s first physical-digital twin automotive NFT for the Lykan HyperSport stunt car featured in Fast & Furious 7.
|Date: Tuesday, May 11
Time: 3 p.m. CEST / 1 p.m. GMT+4 / 9 a.m. EST / 6 a.m. PST
Pre-Bidding Window: Thursday, May 6 – Monday, May 10 at 3 p.m. CEST
Currencies: BTC, ETH, USDT, BNB, ADA/Cardano, Polkadot, USDC, XRP, LTC and BCH
Auction Site: RubiX Market
W Motors produced 10 Lykan HyperSport stunt vehicles exclusively for use in the movie but only one survived filming. The last remaining Lykan HyperSport stunt car, which was featured in scenes with stars Vin Diesel and the late Paul Walker crashing through some of the most famous skyscrapers in the UAE, is now up for auction as an NFT.
The car, which was built as a stunt vehicle and is not street legal, showcases its unique story and rich Hollywood history through its scars and imperfections as a one-of-a-kind collector’s piece. To access images of the car, click here.
“We are honored to be partnering with W Motors to bring this piece of pop culture history to market as the first vehicle NFT in which the buyer will take ownership of the physical asset along with exclusive digital content – this has never been done before in NFTs,” says Dr. Nithin Palavalli, Chief Executive Officer at RubiX. “As NFTs continue to infiltrate different industries, RubiX is pioneering technological advancements that will shape the future of automotive sales and W Motors is the perfect partner to work with to bring this to market.”
The W Motors Lykan HyperSport NFT is the first physically-backed on-chain automotive NFT in the world which provides the buyer full ownership of both the digital and physical assets. The highest bidder at the auction will receive a NFT package including a collage of exclusive images plus unique 3D videos of the Lykan Hypersport stunt car built on-chain on the RubiX blockchain with DiD security, as well as the physical Lykan HyperSport stunt car that’s currently on display at the W Motors Gallery in Dubai, UAE engraved with an irreplicable QR code (visual crypto) to prove ownership.
“W Motors is the first company to implement NFT technology in the automotive arena, adding another impressive notch to our belt and signaling a new way to sell luxury, investment-grade vehicles in a manner that guarantees provenance, security and ownership of the asset,” said Ralph Debbas, CEO of W Motors. “By partnering with RubiX for the launch of our first asset backed NFT, we are paving the way for the future of NFTs within the automotive space, and this is only the beginning for us.”
The Lykan HyperSport NFT is backed by RubiX’s proprietary patented technology and is built on the most secure and sustainable blockchain in the market today. The technology incorporates the users’ Passwordless Digital Identity (DID) and unique QR Codes that require authentication for NFT access, preventing the loss or theft of keys. The digital assets used for a RubiX NFT are stored on the RubiX blockchain, not on a centralized server, meaning ownership of the digital asset can’t be accessed by other parties and provides true ownership of the asset.
RubiX is a proofchain protocol that can scale with asynchronous parallelism to facilitate real world decentralized applications. Cryptographically strong, POH consensus algorithms are used for transaction validation. RubiX uses Proof of Harvest satisfying PBFT rule for consensus allowing full nodes to be run across all platforms (Server, NAS, VMs, PCs, Embedded Platforms, IoT’s and Mobiles). The platform leverages real world Distributed File System (DFS) based on content-based addressing for data storage.
RubiX has primarily two types of tokens: Protocol tokens generated with strong mathematical proofs that are mined by nodes working to secure the network by storing proofs (capped under 51 million), and Asset tokens that can represent any underlying asset or contract including NFTs. DeFi or smart contracts, RubiX Network is an aggregation of several account-chains existing in parallel. Transactions achieve consensus individually, allowing for asynchronous parallelism leading to very high scalability. Account-chains are linked through unique tokens & tokenchain hashes.
About W Motors Automotive Group Holding Ltd.
Founded in 2012, W Motors is the first manufacturer of high-performance luxury sports cars in the Middle East. Based in Dubai, the company is fully integrated with activities ranging from Automotive Design, Research & Development to Engineering and Manufacturing, as well as Automotive Consultancy within its Special Projects Division.
Led by Founder and CEO Ralph R. Debbas, W Motors creates some of the most exclusive and technologically advanced vehicles on the market today in partnership with leading automotive engineering and manufacturing companies around the world.
In 2019, W Motors became the first private company to deposit its shares in Nasdaq Dubai’s CSD (Central Securities Depository) and established a holding company, W Motors Automotive Group Holding Limited, in the Dubai International Financial Centre (DIFC).
The first hypercar created by W Motors was the limited edition Lykan HyperSport, which catapulted the company to international stardom when it took centre stage as hero car in Universal Studios’ Furious 7. Its latest hypercar to be launched is the Fenyr SuperSport, a limited edition with a production run of 110 models including 10 “Launch Editions”. The company also created the world’s most advanced security vehicle, the Ghiath Beast Patrol for Dubai Police which features cutting- edge technologies in line with the needs of Police Forces.
In addition, W Motors launched their Autonomous driving program in 2017 to develop the first UAE fully autonomous L4/L5 vehicle to be deployed on the roads by 2022. The first prototype was built and presented in February 2019 in Dubai followed by a world premiere at the Shanghai Auto Show in China.
W Motors has launched the construction of its state-of-the-art automotive facility in Dubai UAE, expected to be ready by beginning 2022, which will accommodate the production of all current and future models including electric and autonomous vehicles, in line with Dubai’s vision of becoming the “world’s smartest city”.
Uproar PR for RubiX