Page 81 - Expereience_Magazine_2021_Fall_Barrett-Jackson

Non-fungible, what does that mean? (Lot #742) and the 2019 Ford GT (Lot #749)
Other than being a fun word (we dare you crossing the auction block, a video of the auctioning
to say it three times quickly) non-fungible and sale of the 1970 Chevrolet Camaro Custom
essentially means it is unique or without Coupe known as “The Grinch” (Lot #770) and an
equivalent. An example, a $100 dollar bill has illustration of the 1963 Chevrolet Corvette Split-
fungibility, meaning it can be exchanged for Window Custom Coupe (Lot #763).
two $50 bills, five 20s or 100 singles. An NFT To illustrate what this is all about, consider the
has zero fungibility; it represents a one-of-one NBA’s Top Shot. The NBA partnered with a company
thing like the Declaration of Independence or called Dapper Labs to create a blockchain-based
an original DaVinci sketch. And because NFTs platform that allows fans to buy, sell and trade
are stored using the blockchain, they are 100 digital cards of officially licensed video highlights
percent authentic.
called “Moments.” The video highlights are then
Exactly how is this relevant to Barrett-Jackson? digitized and distributed in limited amounts,
A good question. In June at the 2021 Barrett- creating scarcity and leaving some NFTs to be more
Jackson Las Vegas Auction, The World’s sought-after than others – just like how a first-
Greatest Collector Car Auctions set a historic edition Mike Trout baseball card is more valuable
precedent becoming the first collector car and desired than a more common card.
company in history to sell four NFTs during By buying a pack, you get five cards and essentially
a live, in-person auction. The collection of own the NFTs connected to those cards and can
four NFTs commemorated the sale of the display the collection online. Barrett-Jackson’s launch
2021 Ford Mustang Mach 1 VIN 001, the 2021 of these exclusive NFTs will be done in partnership
Ram 1500 TRX Launch Edition VIN 001, the with Motoclub, a digital collectibles marketplace
<Image Href=”File://Images/244558_front_3-4.Jpg” /> <2021 Ford Mustang Mach 1 VIN 001 2021 Ford Bronco 2-Door VIN 001 and the for car enthusiasts. We’re in the early days of a
Href=”File://001110011/244558_rear_3-4.Jpg” /> <Image Href=”11/244558_engine.jpg” /> <Im- 2022 GMC Hummer EV Edition 1 VIN 001. transformative new era in collectibles. Barrett-Jackson
age Href=”File://001110011/244558_interior.jpg” /> <2021 Ram 1500 TRX Launch Edition VIN 001 In total, the sale of these four VIN 001 NFTs has long been a pioneer in the collector car industry
Href=”File://001110011/244558_side_profile.jpg” /> <Image Href=”File://001110011/244558_mis244558_ brought in $67,000, adding a new dynamic
misc_81a2f742-2ac4-4978-Abba-144c6aad5043.Jpg” /> <Image Href=”File://2021 Ford Bronco 2-Door to the world of collecting. and will continue to explore new avenues to share its
VIN 001/244558_misc_a7552b88-C06a-4f90-84cf-21726d340dc0.Jp2022 GMC Hummer EV Edition 1 VIN passion for the collector car hobby.
0012-3024-47b0-Af41-209511a3bb8d.jpg” /> <Image Href=”File://001110011/244558_misc_f7c5e4e4- “Barrett-Jackson has blazed the trail in the I still don’t get it.
D678-49b6-B945-0943d7e37811.Jpg” /> <Image Href=”File://001110011/244558_misc_527ee4F- collector car world for decades, and the rollout
ile://001110011/244558_misc_45c2-8e27a5c102da.jpg”/><Image Href=”File://001110011/244558_ of the first NFTs in our industry is another great To be fair, it’s a lot to take in. A new world of digital

example of our team introducing new and collectibles is already forming, and Barrett-Jackson
is leading the charge for collectible cars – in the
exciting ways to engage the hobby,” said Craig blockchain and on the auction block.
Jackson, chairman and CEO of Barrett-Jackson.
For information on the NFTs being offered during the Houston auction,
Building on the success of the NFT sales visit Barrett-Jackson.com
in Las Vegas, the next release will focus on
commemorating the sale of 15 of the top-
selling cars at the 2021 Barrett-Jackson Las
Vegas Auction as three-tiered packs – Rare,
Epic and Elite. The easiest way to explain this
is that Barrett-Jackson has partnered with
CurrencyWorks to create digital “baseball
card” packs, but instead of NFTs of individual
baseball players, we have the NFTs of the sale
of auction cars. For instance, each pack will
include a random selection of five NFTs: three
images, one illustration and one video.
For example, a Barrett-Jackson Elite Pack may
include images of the 2015 McLaren P1 (Lot
#748), 1957 Mercedes-Benz 300SL Roadster

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