Tesla CEO Elon Musk is a vocal critic of NFTs and Web3 in general. He famously called Twitter’s decision to add NFT profile pictures as ‘annoying bs’.
The world’s richest man sees very little utility for Non-Fungible Tokens, and like Twitter founder Jack Dorsey, thinks that there is little that is actually decentralized, but rather just new tech lords coming in to replace the current ones.
Perhaps this video may change his mind afterall.
Tesla owner Chris Cassano took to TikTok to demonstrate how a Tesla can be controlled with an NFT. The car, which is basically a computer on wheels, was hooked up to the blockchain, and the NFT took up the same role as the car key.
Basically, anyone who owns that NFT can control the car. 10,000 of these NFTs exist, and Chris owns all of them.
Watch that clip.
This is simply incredible, since we are only starting to find ways we can adopt NFTs for real world usage. Indeed, we have barely scratched the surface of what this technology can accomplish.
Making this utility possible is Lit Protocol, a powerful tool used to grant access to content, software, and data using tokens, NFTs, and blockchain identity as keys. It basically wants to bring utility to the web.
For how this actually works, this is Chris explaining on YouTube.
There is also a longer tutorial on Github.