Lamborghini-backed GT racing team to certify car parts with NFTs

1 month ago
2 mins read

GT racing team Vincenzo Sospiri Racing (VSR), supported by Lamborghini Squadra Corse has announced a new programme for non-fungible token (NFT) certification involving racing car parts.

In a press statement shared with Finbold on July 5, the company noted the initiative would be carried out in partnership with the NFT platform Go2NFT, where the team is expected to build NFT certification for their race cars with Go2NFT and blockchain platform Skey Network.

Vincenzo Sospiri from VSR highlighted some key benefits of the integration of NFTs. According to Sospiri:

“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.”

He added: 

“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 highest standards of quality.”

Solving IP challenge

Elsewhere, Go2NFT CEO Boris Ejsymont stated that incorporating NFTs should solve challenges most brands face, especially in protecting intellectual property for their products. 

“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,” said Ejsymont.

He noted that the partnership with VSR is a pilot initiative for such a programme set to be rolled out in future. 

Besides the car parts, VSR plans to roll out its NFT certification programme to its official merchandise and other products. The initiative aims to promote trust among fans while purchasing branded goods. 

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Justinas Baltrusaitis

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.