Mercedes-AMG GT Crypto WEF Failure Mascot Badged Bitcoin

[ad_1]

There are far fewer crypto bros and NFT nerds in Davos, Switzerland for this week’s World Economic Forum, but there remains one eye-catching visual reminder of the faltering cryptocurrency market: a bright orange Mercedes-AMG GT with a Bitcoin badge replacing the three-pointed Mercedes Star on the front.

The cryptocurrency had a hell of a 2022; the industry lost $1.4 trillion, according to CNBC. The crash obliterated an old crypto storefront in Davos, Switzerland during this week’s World Economic Forum 2023:

The Promenade is Davos’ main street where business and government take over shops and cafes for the week. Last year, crypto companies from all walks of life took over the scene. But since the market crash, there are far fewer crypto companies with flashy storefronts in Davos.

A store selling non-fungible tokens, or NFTs, has disappeared. Prices for NFTs, which are digital collectibles, also fell last year. What remains are companies that survived the bear market and are looking to expand their business.

[…]

There were also those in traditional finance that welcomed fewer crypto businesses.

Mark Haefele, chief investment officer at UBS Global Wealth Management, was asked at an event hosted by the Swiss bank what he would like to see in Davos this year. He said he’s seen it before: it’s less crypto on the high street.

However, far fewer crypto storefronts do not mean that crypto is completely out of the WEF stage. Someone with skin still in the crypto game parked this eye-catching Mercedes-AMG GT in, dare I say, a Jalopnik-esque orange, on the same block that housed the crypto shops on the Promenade. Before you get too excited, it’s just a base $118,000 GT, with the Mercedes badge replaced with a Bitcoin symbol and tires with In Crypto We Trust etched into the sidewalls and license plate.

And of course, it’s a very nice car, not exactly affordable with, say, a lowly blacksmith’s salary. And also yes, they are very fancy wheels, but not what most enthusiasts would consider a super successful billionaires vehicle.

G/O Media may receive a commission

Up to $100 credit

Samsung Reserve

Reserve the next-gen Samsung device All you have to do is sign up with your email and boom: credit for your pre-order on a new Samsung device.

It is not known who or what company owns the vehicle. While the car is also being used to promote donations to Ukraine, two crypto CEOs CNBC spoke to were annoyed by the presence of flashy sports cars outside one of the few crypto storefronts this year, especially after industry investors lost so much money in 2023. .

Cars and crypto/NFTs have gone together like peanut butter and sewage runoff over the past few years. A Tesla fan used his vehicle to extract the hardware and Chevrolet performed a hilarious experiment where the automaker attempted to auction an NFT of an all-new Corvette Z06 with the added bonus of the bid winner receiving the real car. No one bid on the car, which was priced at 206 Ethereum or, at the time of the auction, $238,960. The Z06 normally starts at $106,395.

Blockchain Journals David Berlind Stumbles upon a Bitcoin Mercedes at the World Economic Forum

[ad_2]