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OK. I've got the invite. I've read the description and for the life of me I have absolutely no idea what the hell they are pitching/selling. I am I the only idiot that can't figure out what this is about?
An NFT is basically just a way to make sure that a piece of, usually artwork, is unique. In this case they are selling a limited edition (only 2012 will be "minted") as a homage to the McLaren P1 (which was launched in the year 2012). Essentially you get one of 2012 unique images/artwork designed by MSO. You can then keep it, or resell it. Its resale value will be whatever something deems it is - but as it's a limited edition from a well known manufacturer, then hopefully it's value will go up. The blockchain ensures cryptographic authenticity so that the 2012 that are made are unique in the digital universe - since it's non-fungible, it cannot be duplicated, split, or changed in any way - like a unique serial number.

The cost of the token will be 0.5ETH for those with invite codes (if you get the email as an owner, you must immediately sign up to get a digital invite code and be added to the "allowlist"). 0.5ETH is equivalent, right now, to about $1300. On top of this will be the "gas" fees charged by the network (note that while it's called gas, and McLaren is a car company, there is absolutely no relation - it's called a gas fee by the network and has nothing to do with cars).

The gas price is a calculated, ever changing, fee. The fee is based on congestion of the network, etc, so busier times tax the network, and cause that fee to go up. However, it appears that you'll be able to purchase your NFT from McLaren, then choose when it's minted (stored on the blockchain). I saw it as low as 18 gwei this evening, but during busy times can jump up to some crazy numbers. The past week has averaged about 50-60 gwei. The term "gwei" is a unit of gas, and each transaction needs a certain amount of gas on Etherium. A standard money transfer is usually 21,000 units, so on average would be about $2.73 (50gwei * 21000 units * 0.000000001ETH * $2600) - the ETH amount is the standard cost of 1 gwei, and the $2600 is approx the price of 1 ETH).

That being said, the amount of "gas" needed to "mint" an NFT is much more than 21,000 units. So it could be as low as, say, $70, or as high as >$500. That's why it's prudent to choose your time of minting for when the cost of gwei is at its lowest (Ethereum Gas Tracker | Etherscan for the real time price).

Anyway, you'll need to go to nft.mclaren.com when the sale starts (6PM PST / 2PM BST on the 11th) with your invite code to purchase it (using credit card, Etherium, etc), then you can mint it on the block chain (i.e. turn it in to an NFT) at your leisure. You'll need an account at MetaMask.io to create your digital wallet for the latter part.

As for how useful it is, there are a few main things I believe:

1) It's a non-fungible token that is limited - and thus can be sold later at a profit like a lot of McLaren things. It's important to note that the Creator is McLaren themselves. Once you buy it you will be a Collector, and can sell it to others on the secondary market (like OpenSea).

2) While you own it, it is securely and verifiably yours - and thus they can give us exclusive access to things they are doing (events, products, etc).

3) The reason most NFT's are created at all - royalties. The original Creator of NFT's gets royalties every time the item is sold in the future on OpenSea. A 5% fee will be charged on all future sales, and another 5% as a "reseller fee" (which I believe goes to the OpenSea platform). This revenue supports McLaren. Note that ALL NFT's usually have a royalty on them - it was originally designed for artists to protect their work and get continuous revenue, just like professional music and video creators.

As for cons... well, like anything it's only worth what people will pay for it. It's just like stock. If you pay $1300 for it, and tomorrow someone wants to pay $1,000,000 for it because McLaren make ownership of the Phase 1 NFT a huge benefit, then that's what it's worth. If the project is forgotten and the NFT's are just pretty pictures, then it's worth nothing.

Anyway, hope this helps - it's a complicated world, and ultimately it might cost $2K (with fees) to own a pretty picture that's not much use, but it could be exciting, and could open up unique (and valuable) owner experiences. Many people happily pay millions for a watch, or $700,000 extra for exposed carbon on their Senna - so this is actually a bargain if you think about it. :ROFLMAO:

Thanks!

Z.
 

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Hi everyone I've been reading your posts about the NFTs. My name is Rich and I'd be really interested to hear from anyone who isn't going to use their NFT email/code.
I'd also be happy to answer any questions you may have about them.
Thanks for your time.
Rich
 

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I’ve seen a few of these “can I use your code” requests… while it’s up to individual owners to decide, if you’re planning on not using it, I hope that you don’t give it away; McLaren intended the phase 1 to be for friends, family & owners of McLaren, and these non-invitees are just trying to profit from it.

Thanks!

Z.
 

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I fully understand what Zerokewl is saying, and agree. I'd happily discuss the possible purchase of the email/code or going in together with someone who's interested but does know/understand NFTs.
if anyone is interested then please let me know asap as it's happening ina few days.
Thanks
Rich
 

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Question: my dealer told me he entered my email to get a code/link last week but I haven‘t received anything. Has anyone here actually received an email? I saw someone on instagram posting a screenshot of a email confirming his sign up so I was wondering if anyone has more information in this or if I have to poke my dealer again tomorrow..
 

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Question: my dealer told me he entered my email to get a code/link last week but I haven‘t received anything. Has anyone here actually received an email? I saw someone on instagram posting a screenshot of a email confirming his sign up so I was wondering if anyone has more information in this or if I have to poke my dealer again tomorrow..
I got the invite and then the code instantly. It’s basically two emails - first is the invite that you click on to accept the invite. Then you get a second email that contains your unique code that proves you’re on the allowlist.

You can use the contact form on nft.mclaren.com to ask about your invite. Include your car details and your dealer details.

Thanks!

Z.
 

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I got the invite and then the code instantly. It’s basically two emails - first is the invite that you click on to accept the invite. Then you get a second email that contains your unique code that proves you’re on the allowlist.

You can use the contact form on nft.mclaren.com to ask about your invite. Include your car details and your dealer details.

Thanks!

Z.
Thanks Z.! I did that last night but still haven't heard from them. This doesn't seem very well managed. Why not just send all Mclaren Owners in their database an invite?
They are making it really complicated...
 

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Thanks Z.! I did that last night but still haven't heard from them. This doesn't seem very well managed. Why not just send all Mclaren Owners in their database an invite?
They are making it really complicated...
They claim they sent an invite to everyone on their mailing list - which I think would be maintained by your dealer. Did you order, or buy new/used? I'd imagine those who ordered from factory would have a better chance of having received it than those who bought new/used off the lot (as the dealer would have had more reason to have your email address on file). Also, I've found that dealers tend to be friendlier to those that buy new vs used in general too. Lastly, if you bought from a non-McLaren dealer, then it's unlikely any records made it to them.

Unfortunately I don't think having emails on file was ever a requirement for dealers to capture. Home addresses are more accurate generally because of government registration requirements, but unless they trust the dealers captured it, even that would require them to go back to the driving/vehicle license authorities in every single jurisdiction in the world - which of course is not feasible.

Lastly, I wouldn't be surprised if, at this point, all 2012 codes have been sent. Since they don't seem to have a first come first serve on the actual day, I assume they are only sending 2012 actual codes. They have way more owners than that, so unfortunately the vast majority are likely going to miss out on the Phase 1 Genesis Collection.

The above is all speculation though as I don't know for sure how they are running it internally!

Thanks!

Z.
 

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I bought brand new directly from my dealer and also have a 765lt spider incoming. My dealer told me he talked to several people at mclaren trying to find out why I didn’t get an invite as I should have but no one was able to help. He said he sent another email out today directly to Mclaren UK.
Very poor execution on Mclaren‘s side imho. They had all my info and have been sending me spam for years.
 

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I bought brand new directly from my dealer and also have a 765lt spider incoming. My dealer told me he talked to several people at mclaren trying to find out why I didn’t get an invite as I should have but no one was able to help. He said he sent another email out today directly to Mclaren UK.
Very poor execution on Mclaren‘s side imho. They had all my info and have been sending me spam for years.
Weird - then for sure you should have gotten it. Did it get stuck in spam? The subject on April 28th was "Enter the metaverse with MSO LAB". I'm still thinking it was likely a dealer issue though..

Thanks!

Z.
 

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Weird - then for sure you should have gotten it. Did it get stuck in spam? The subject on April 28th was "Enter the metaverse with MSO LAB". I'm still thinking it was likely a dealer issue though..

Thanks!

Z.
No, nothing in spam. What probably happened was my dealer didn’t know about this list (he actually has no idea what an NFT even is) and Mclaren cannot correct this now…really disappointing as I have been gathering a small NFT collection and this would be an awesome addition.
 

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Weird - then for sure you should have gotten it. Did it get stuck in spam? The subject on April 28th was "Enter the metaverse with MSO LAB". I'm still thinking it was likely a dealer issue though..

Thanks!

Z.
@zerokewl Can you tell me what the senders email address of the invitation is? My dealer is still trying to figure out and help but he was just told by mclaren I would have to wait until May 11th which is as we know not true. So I think there is a big confusion going on at Mclaren…
 
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