IRVINE, Calif., April 21, 2026 /PRNewswire/ -- Karma Automotive, America's only ultra‑luxury vehicle manufacturer, is participating in the Hong Kong Web3 Festival from April 20-23, where the company is presenting the Karma Kaveya, its flagship supercar, and engaging global media, investors, and industry leaders in a forward‑looking discussion on how value creation and collectability are evolving in the automotive sector.

As part of the program, Marques McCammon, President and Chief Executive of Karma Automotive, will participate in a panel discussion with leaders in blockchain infrastructure and asset tokenization including Nazmus Saquib, Chief Executive Officer of Oak Network. The panel will explore how real‑world assets—such as automobiles—may responsibly integrate with digital networks as regulatory frameworks continue to mature.

Karma Automotive's participation takes place against the backdrop of a rapidly expanding digital asset economy. The global cryptocurrency market today represents more than $2.5 trillion in aggregate market value, reflecting broad global adoption of blockchain‑based networks, tokens, and digital value exchange. While this market does not yet directly represent the widespread tokenization of physical assets, it demonstrates the scale, liquidity, and consumer familiarity that digital networks have already achieved.

At the same time, digitally native industries such as esports, online gaming, and online betting—each exceeding $100 billion in annual global activity—have normalized the idea that value can be created, exchanged, and tracked digitally at scale. These markets illustrate how younger generations engage with assets, rewards, and scarcity in environments governed by transparent, rules‑based systems.

Within this context, Karma Automotive is in development of a network token in collaboration with Oak Network, a Web3 infrastructure startup backed by Andreessen Horowitz, one of the world's leading venture capital firms. The token under exploration is intended to function as a digital network participation mechanism.

The proposed network token would reflect verified transaction activity occurring within Karma Automotive's ecosystem, as well as agentic AI-based transactions that occur within the vehicle ownership experience that are managed using blockchain computing. Karma has emphasized that legal and regulatory policies surrounding asset tokenization are still evolving, and any future implementation will be structured in compliance with applicable laws and regulatory guidance.

While the tokenization of organizational workflows remains an untapped frontier, it offers significant potential for enterprise efficiency. As AI agents begin to manage complex industrial workloads, Oak Network and Karma are developing an agentic framework for automotive health data. This solution will leverage the Karma token to facilitate:
AI compute and analysis, powering real-time assessments of vehicle health and resale valuation; immutable records, generating transparent, permanent public records on the blockchain; and operational settlement, using tokens to compensate agents for on-chain data entry and verified workloads. This model serves as a scalable blueprint for tracking and remunerating autonomous operational activities through decentralized assets.

Importantly, the network token is not designed to represent ownership in a vehicle or in Karma Automotive itself. Rather, it is envisioned as a digital mechanism that reflects participation and transactional value across a broader network—separate from but related to the business of the physical vehicle—providing a reward to owners and a new way for clients to engage with the brand's ecosystem.

The Karma Kaveya, presented at the Hong Kong Web3 Festival, represents both the flagship of the Karma brand and the flagship of its technological direction. As announced by Karma Automotive in February, the Kaveya is expected to be the first vehicle in North America to feature solid‑state battery technology, marking a significant milestone in energy density, performance, and next‑generation vehicle architecture.

Kaveya's presence at the festival underscores Karma's commitment to integrating next‑generation technologies with next‑generation ultra‑luxury products. While the company continues to honor the craftsmanship, design, and performance that define the ultra‑luxury segment, it is also engaging with how digital networks, blockchain infrastructure, and emerging ownership models may shape the future of collectability.

"As an American ultra‑luxury manufacturer, we believe our role is to innovate on what modern collectability looks like," said McCammon. "That means pairing groundbreaking physical technology—like solid‑state batteries—with a thoughtful exploration of how digital ecosystems can responsibly coexist with physical assets. Our first step - allowing clients to reserve and purchase with USDC stablecoin - was completed last year. Now we are looking to what's next."

By participating in the Hong Kong Web3 Festival and engaging openly with industry experts, regulators, and technology partners, Karma Automotive aims to contribute to a transparent, forward‑thinking dialogue around how ultra‑luxury vehicles, digital networks, and evolving value systems may intersect in the years ahead.

About Karma Automotive

Karma Automotive is America's only full-line ultra-luxury vehicle manufacturer, and a pioneer of Hybrid EREV (Extended Range Electric) vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California's spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma's new design language. Sales of the 3^rd Generation Karma Revero sport sedan, the world's first luxury Hybrid EREV plug-in, and its performance-tuned stablemate, Revero Invictus, are now underway in the USA and EU, offering luxury balanced with conscientiousness delivered without compromise. The Gyesera Grande Coupé, a Hybrid EREV four-seater, is due in Q2 2026; and the Amaris GT Coupé Hybrid EREV arrives in Q4 2026. The Karma Kaveya super-coupe, with over 1,000HP and butterfly-doors, will arrive in Q4 2027, and the Karma Ivara GT-UV will arrive in 2028: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:
Joe Richardson, Beautiful Noise PR
joe@beautifulnoisepr.com

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SOURCE Karma Automotive