Lamborghini authenticates its car parts using NFTs
Lamborghini authenticates its car parts using NFTs
NFT

Lamborghini authenticates its car parts using NFTs

By Martina Canzani - 6 Jul 2022

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Lamborghini, a famous Italian luxury car manufacturer, has announced that it will certify parts of its cars using NFTs.

In recent years their use has grown mainly in the art world, but we must never forget that this type of use is only the starting point, the tip of the iceberg of what can all be potential applications of NFTs.

Lamborghini and NFTs: the collaboration with Go2NFT and Skey Network

Lamborghini has decided to certify the components used for its cars with NFTs

Scuderia Vincenzo Sospiri Racing, an automotive team dedicated to GT racing supported by Lamborghini Racing, has decided to embrace Non-Fungible Token technology.

The pioneering project will be the result of synergistic work between former driver Sospiri, the Go2NFT platform and the Skey Network blockchain.

This project will make it possible to digitally monitor and guarantee the quality of each car’s parts.

Lamborghini Racing’s plan, however, in addition to being ambitious and futuristic, also carries a not inconsiderable burden of responsibility.

Vincenzo Sospiri stated:

“We have the great privilege to race in some of the greatest motorsport events in the world, with one of the world’s most recognised and beloved brands. This also brings great responsibility – to ensure that we can securely authenticate and audit every part of our racing fleet to monitor performance and ensure provenance. 

We are excited to pilot with Go2NFT and the renowned team at Skey Network to build NFT certification across our cars and other products to ensure we maintain the very highest standards of quality and control”.

Merchandise will also be certified

VSR’s project is actually a wide-ranging program.

The plan, in fact, is to expand the NFT certificate to include official merchandise and any team products.

Doing so would ensure fans of the authenticity of each and every product.

Boris Ejsymont, Go2NFT executive, also made statements on the matter:

“What better way to launch our new platform than alongside one of the better racing teams supported by one of the most famous car brands in the world. 

We know that provenance, accountability and quality control are key challenges for superbrands wanting to protect their IP and we believe that NFT utility can help create more trust and transparency for brands and their fans. This project with VSR is just the start of many such co-operations for beloved brands across the globe”.

NFTs thus allow a brand’s IP to be protected in a whole new way, while simultaneously giving certified security to its customers.

The racing world enters the crypto space

Contextualizing the news, it can be said that in 2022 the world of racing has, on several occasions, embraced the world of cryptocurrencies.

It is worth mentioning that in February the Formula 1 team, Red Bull Racing, made a $150 million partnership with the crypto exchange Bybit.

In March, Crypto.com made a deal with the Aston Martin Formula 1 team.

Under the agreement, the brand will display advertising on the exchange, bringing the automotive industry to better understand the cryptocurrency world.

Martina Canzani

Graduated in Law at the University of Milan. After completing her academic studies, she became interested in the world of blockchain, finding it a powerful tool for redemption. Her passion then turned into a job, and now she invests in early-stage projects in decentralised finance and DAO and writes articles on all the news concerning the crypto world.

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