DeLorean Labs Partners with Sir Patrick Stewart for Electric Car Launch

DeLorean Labs, the crypto arm of the revived 80s car company known for its iconic vehicles featured in the Back to the Future films, has announced a partnership with British actor Sir Patrick Stewart to promote the upcoming DeLorean electric car. Stewart, renowned for his role in the Star Trek franchise, has lent his support to the project, stating in a promotional video, “They say the best way to predict the future is to create it.”

DeLorean Labs has initiated onchain vehicle reservations using Sui NFTs for the forthcoming DeLorean Alpha 5 EV, marking the first DeLorean production in over four decades. The car is anticipated to be available in red, white, and gray paint options, with a release date slated for 2027. The company is part of the DeLorean Motor Company, and its crypto arm operates under a separate website.

In addition to the vehicle reservations, DeLorean Labs plans to launch a DMC token in the future, along with token staking and a dedicated onchain marketplace for DeLorean reservations and vehicle resale. Once the car is released, vehicle statistics are also expected to be recorded onchain. The company is utilizing the Sui blockchain for these initiatives and is in the process of migrating its “legacy” Build Slot NFTs, which were sold in 2023, to the Sui chain and new marketplace. Holders of these legacy NFTs will be the first to receive the new cars.

Evan Kuhn, president of DeLorean Labs, mentioned that the company may produce between 1,300 to 10,000 vehicles annually, positioning DeLorean as a low-volume, exclusive car brand. Initially, the Build Slot NFTs were intended to be launched on Polygon, but technical restrictions led DeLorean to partner with the Sui Foundation and Mysten Labs. The Move language used by Sui was deemed more suitable for DeLorean’s goals.

To purchase a Build Slot NFT, buyers must first register a DeLorean account, connect or create a Sui (Slush) wallet, and buy an Alpha Club membership from DeLorean. The Alpha Club membership is a one-time fee of $88. Each Build Slot NFT, priced at $2,500, secures a spot in line for buyers over the age of 18 to purchase the Alpha 5 EV later. The exact cost of the Alpha 5 EV is yet to be determined, but some have speculated that its MSRP could be around $125,000.

The process of acquiring a Build Slot NFT involves several steps, including the possibility of bidding on others’ NFTs through the Alpha Club membership. However, only $2,500 per NFT will be credited toward the purchase of the car. The lower the NFT number, the earlier the reservation is processed. The final decision on whether the process is worth the effort will ultimately be up to DeLorean fans eager to own the 80s-inspired electric vehicle.