Lamborghini-backed motor racing team adopts NFT authentication for car parts

Quick Take

  • The Vincenzo Sospiri Racing GT team will begin using NFTs to certify and authenticate factory car parts.
  • The move is part of a pilot scheme by NFT generator platform Go2NFT.

Lamborghini Squadra Corse GT racing team Vincenzo Sospiri Racing announced that it will begin using non-fungible tokens (NFTs) to certify and authenticate factory car parts, the team announced on Tuesday.

The move is part of a pilot scheme by the company Go2NFT, which specializes in creating corporate NFTs for businesses.

In a statement, the company said the rollout could also be extended to authenticate merchandise and other official products. In March, it received a $5 million investment from blockchain ecosystem Skey Network. 

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,” said Boris Ejsymont, chief business officer for Go2NFT.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Lamborghini itself launched its first NFT collection in January this year in collaboration with Swiss artist Fabian Oefner. 

However, the most famous lambo-related NFT collection is probably that of artist Shl0ms, who blew one up to protest the get-rich-quick culture of crypto earlier this year.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Callan Quinn is an NFT, gaming and metaverse reporter. She started her career working for the expat magazine City Weekend in Guangzhou, China. She also has worked as a business journalist in the UK, Somaliland and the republic of Georgia. Before joining The Block, she was a freelance journalist covering the Chinese tech industry. She speaks Mandarin, French and German. Get in touch via Twitter @quinnishvili or email [email protected].