Presented by MMPlate.com – This is an opportunity to acquire a California plate. If it were a country, California would be the 37th most populous country and the fifth-largest economy in the world as of 2020. There are nearly 40,000,000 people in California and over 35,000,000 registered vehicles. There are no single-character plates available to the public, which means two-character plates are the rarest. Even rarer are two-character repeaters; only 35 to be exact (00 and OO count as one).
By design, special interest plates (vanity plates as they are sometimes called) are highly visible symbols of self-expression, status, and exclusivity. There can be only one, and there is value in scarcity.
The most valuable plate ever publicly sold in the US is the number ‘6’ in Delaware for $675,000 in 2008. The most valuable plate ever publicly sold in the world is the number ‘1’ in Abu Dhabi for about $14,800,000 in 2009.
Sure, on occasion, you see 3-character plates, but when was the last time you saw a 2-character plate? When have you seen a license plate paired with an NFT? Never.
This is the first known pairing of a special interest license plate with a non-fungible token (NFT). The NFT establishes provenance and undeniable proof of the historical ownership record. It pioneers a new market opportunity in the NFT space. This compounds the value of the MM plate exponentially and positions it to be the most valuable license plate in the world, disrupting the system and setting a new standard in luxury and exclusivity.
When asked why he would sell the plate, the owner said, “I want the sale to demonstrate a new use for NFTs in a physical space. I also want to establish a new wealth opportunity for owners of personal license plates. Being the first minting of its kind, I can only imagine the prestige that would follow the MM plate from owner to owner, forever. License plates already hold value by being 1-of-1. The pairing of NFT authentication with tangible items like license plates, in this case, is the way of the future. So, let’s make history, define the future, and let the world know we did.”
Of course, you may wonder how the transfer of the physical plate is possible. Well, in 2017, the California DMV revised their Form Reg17 which added the option to “release interest (in a license plate configuration) to new owner.” This opened up the opportunity for special plates to change hands from owner to owner. Plain and simple.
View the listing directly at OpenSea.io and make an offer! Read more at mmplate.com.
All original license plate paperwork is in hand (Official DMV delivery packaging, last vehicle registration, receipt confirmation for the retention fee).
These plates were tagged and used on a vehicle so they have seen some use, however, they are in great condition.
The NFT details have been laser-inscribed on the back of the plates themselves.
How the transfer will work:
Once the transaction on Opensea.io is complete, the plates will be hand-delivered at a safe location anywhere in CA to be agreed upon by the seller (or seller representative) and buyer (or buyer representative). The seller agrees not to transfer the funds to another wallet until the plates are delivered. The seller will deliver an original copy of CA DMV Form REG17 with the seller’s information filled out completely, along with the pair of MM license plates and original paperwork mentioned above. This will release interest in the plates to the buyer. The buyer will then fill out their section of Form REG17 and be able to register the plates to a vehicle in their name. Preferably, the transaction will take place at a AAA Auto Club location (to avoid the lines at the DMV) so the plate transfer can be witnessed by both parties.
It is solely the buyer’s responsibility to transfer the plates to their name and register them to their own vehicle. It is also the buyer’s responsibility to maintain all fees required to keep the plates registered.
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© 2021 duPont REGISTRY
© 2021 duPont REGISTRY
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