How to buy a Tesla for $1?

5 min readApr 29, 2021

🚀 You are invited: To the first-ever Tesla Model 3 pNFT airdrop! 🚗 Get $10 of free pTeslaModel3 and CFX tokens by joining our airdrop event.

How to buy a Tesla for $1 with Phantom?

In 2010 the first Bitcoin purchase was made for two pizzas from Papa Johns. By 2011 it was possible to purchase Alpaca socks and, in 2012, VPN access. Today, I just preordered a Tesla Model 3 for 2.413612 Bitcoin.

- Mason Borda, I Just Preordered a Tesla Model 3 with Bitcoin

In April 2016, Technology Enthusiast Mason Borda preordered a Tesla Model 3 with bitcoins on the Tesla website.

Tesla didn’t support direct bitcoin payment back then. Therefore, Mason had to use a service called ShakePay to create a one-time-use credit card. He deposited about $1000 worth in bitcoin. And then, he used the card to preorder a Tesla Model 3.

At the time, a Tesla Model 3 car cost $35,000, and Mason paid 2.413,612 bitcoins for a $1,000 deposit.

In the years since this transaction took place, the price of bitcoin has skyrocketed to eye-popping levels. Today only that 2.41 bitcoin deposit could buy Manson 3 Tesla Model 3s.

Does this remind you of the story of bitcoin for pizza?

@maxkeiser: A Tesla is the new pizza. 10 years from now people will be amazed that someone spent a whole #Bitcoin for a Tesla

@Phantom: a smarter way to get a Tesla Model 3 with cryptos (even starting from $1)

In Feb 2021, Tesla announced it would start accepting bitcoin payments, making Tesla the first automaker to do so. Undoubtedly, the news has the cryptocurrency community very excited. But for Hodler, buying cars directly with bitcoin still carries the risk of losing future upside gains.

Time to explore some smart options with DeFi tools.

Next, we’ll illustrate how users can use Phantom, an NFT-enabled synthetic asset protocol, to get the Tesla car they’ve been wanting.

pNFT & pTeslaModel3 token

Firstly, let’s the to know the essence of this practice: pNFT & pNFT tokens

  • pNFT: A special type of NFT (Non-fungible token) issued on Phantom
  • pNFT token: A tokenized synthetic asset supported by the Phantom protocol, generate via over-collateralization of other crypto assets, whose price is linked to a specific asset/commodity through an oracle.
  • pNFT tokens can be used for minting a unique pNFT

Therefore, we can think of pNFT tokens as Fungible tokens that can be minted into pNFT. It’s like identical atoms make up unique individuals.

Take Tesla Model 3 as an example:

Phantom offers a type of pNFT token called “ pTeslaModel3 ” , which tracks the price of 1 millionth of the market price of a Tesla Model 3.

For easy calculation, assume the current price of the Model 3 is $30,000. Therefore, the price of each pTeslaModel3 is 0.03 USDT at the moment.

Users can purchase pTeslaModel3 tokens on trading marketplaces such as Uniswap.

And Phantom allows users to mint a pNFT with 1 million pTeslaModel3 tokens. Once minted, The pNFT holder can thus redeem a real Tesla Model 3 car (or its market value of financial assets) on the Phantom platform, or resell the pNFT to others.

Buy a wheel, then mine the rest.

Let’s meet Bob, a Hodler that would love to get a Tesla car for his birthday someday.

But like most of us, his crypto assets are limited.

Here’s what Bob can do with Phantom to make his dream come true.

  1. Bob continuously watches the price of the pTeslaModel3 token on Phantom’s trading platform and buys some whenever the price is below 0.1 USDT. By doing so, Bob is already on his way to buying a Tesla car at a discounted price.
  2. After purchasing the pTeslaModel3 token, he uses his pTeslaModel3 tokens in liquidity mining on Phantoms, earning PHM token dividends daily.
  3. Bob continues to sell the PHM dividends he earned in exchange for the pTeslaModel3 token.

Finally, Bob collected 1 million pTeslaModel3 tokens. He can now synthesize a Tesla pNFT on Phantom and exchange the pNFT for his own Tesla.

Using the mechanism of the Phantom protocol, even if we only have the money to buy a wheel, even $1, we can start accumulating pTeslaModel3 token step by step and finally get our own Tesla car.

We may not be able to buy a car with Bitcoin all at once, like Mason or the big whales.

But we look forward to the moment when every future Phantom user gets their very own Tesla. And it won’t just be a car and a unique NFT, but a reward for their faith forged with savings, vision, execution, and patience.

If you go back a few hundred years, what we take for granted today would seem like magic — being able to talk to people over long distances, to transmit images, flying, accessing vast amounts of data like an oracle. These are all things that would have been considered magic a few hundred years ago.

— Elon Musk

The above story is just one of Phantom’s various features. We will share more applications in e-sports, digital currency, and other investment categories going forward, so please check back often for more.

Stay tuned to our official Twitter feed and Medium for more information!

🚀 Now from 4/30–5/6, Phantom is offering registered users FREE AIRDROP of pTeslaModel3 token. 👉 Click here to see how you can join the whitelist to get your FREE AIRDROP.

As the Phantom test network is about to go live, we are handing out FREE AIRDROPS to the first 2,000 successfully registered participants, rewards include $10 worth of pTeslaModel3 token and CFX tokens( by Conflux, listed on Binance)!

🎉 Many thanks to Conflux Network for supporting the genesis airdrop!

🚗 We look forward to everyone using them to start their baby steps and get their own pNFT on the Phanton platform.




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