DeLorean Motor Company just built the world’s first blockchain-powered vehicle reservation marketplace.
It was developed on the Sui blockchain, one of the fastest-growing platforms in the space.
Buying cars with cryptocurrency is a relatively new phenomenon, so it’s inevitable that people have questions about how it works.
However, this reservation system actually addresses many problems we often see within the traditional process.
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How the DeLorean Motor Company is rolling out a first in the vehicle reservation marketplace
Whichever way you slice it, the DeLorean is an iconic car.
Whether it’s on a stage in London’s West End, on Facebook Marketplace in Arizona, or being built by students in Northern Ireland, there’s a lot to love about this car.
Now, the company behind the legendary car is unveiling a reservation marketplace.
It’s set to be a world first, due to the fact that it allows customers to pay with cryptocurrency.
This new reservation system actually addresses major problems with traditional car reservations: non-refundable payments, rigid waiting lists, and zero customer control when production delays hit.
Early adopters are already trading DeLorean Alpha5 reservation slots for the company’s upcoming EV for up to $40,000, sixteen times the original $2,500 deposit, proving there’s serious demand for this revolutionary approach.
In fact, current build slots on the marketplace are all secondary buyers and sellers – DeLorean has already sold out of year one production slots.
The company will answer growing demand with further year two build slots in late 2025.
How does this system work?
The DeLorean Marketplace offers a clear and straightforward way to reserve vehicles, designed for buyers who value ease and openness.
It moves away from traditional car-buying methods, which often involve dealers and hidden fees, allowing buyers to buy and sell reservation slots directly between themselves through smart contract technology that ensures secure, instant transfers, removing intermediaries for a simpler, cost-effective process.
Customers reserve an Alpha5 build slot and get a tradeable reservation that represents their place in line.
If they want to move up, they buy someone’s earlier slot.
And if they want to sell their slot, they can list it on the marketplace.
The platform accepts both traditional fiat payments and cryptocurrency, serving car enthusiasts, collectors, and investors.
Not to mention the 560 million people worldwide who use cryptocurrency.
Every transaction is transparent, ownership transfers are instant, and there are no hidden dealer fees or mysterious waiting list shuffles.
Whilst it might sound intimidating to people not overly familiar with crypto, it’s a streamlined process.
To set up the digital wallet takes minutes, and the platform guides customers through every step.
“What online banking did for finance, DeLorean is doing for car ownership,” Evan Kuhn, President of DeLorean Labs, said.
“DeLorean’s Marketplace makes vehicle ownership smarter, not harder.”
In holding $DMC tokens alongside their reservations, customers can earn staking rewards – essentially being paid whilst waiting.
It’s a little bit like earning interest from a savings account.
But you know, whilst in line for one of the world’s most anticipated EVs.
It’s a financial perk that turns waiting time into earning time, something no traditional car reservation offers.
True to its history of forward-thinking innovation, this blockchain marketplace may well shape how vehicles are sold in the future.
The DeLorean Marketplace, built on the SUI network, is live now.
The post DeLorean just transformed the future of car ownership – with blockchain appeared first on Supercar Blondie.
