Lamborghini-backed GT racing team to authenticate car parts using NFTs

189
SHARES
1.5k
VIEWS


Vincenzo Sospiri Racing (VSR), a GT racing team backed by Lamborghini’s Department of Motorsport, has announced its partnership with non-fungible token (NFT) platform Go2NFT to launch a racing car parts certification program.

In an announcement sent to Cointelegraph, former VSR racing champion Vincenzo Sospiri mentioned that his team will be building NFT certification for their race cars with Go2NFT and blockchain platform Sky Network. This will allow them to monitor and ensure the quality of car parts. He explained that:

READ ALSO

“It also brings great responsibility to ensure that we can safely certify and audit every part of our racing fleet to monitor performance and ensure provenance.”

Apart from car parts, VSR also intends to expand the NFT certification program to official merchandise and its other products. According to the team, this will give the fans peace of mind while buying branded goods.

related: Animoca enters the crypto racing game with latest acquisition

Boris Agesmont, an executive at Go2NFT, noted that his team understands the challenges brands face in protecting their intellectual property, and believes that NFTs can provide a solution. Agesmont said that:

“We believe the NFT utility can help build greater trust and transparency for brands and their fans. This project with VSR is just the beginning of many such collaborations for beloved brands around the world.

The worlds of racing and crypto are colliding well into 2022. Back in February, Formula 1 racing team Red Bull Racing inked a $150 million partnership with crypto exchange platform Bybit. In an interview with Cointelegraph, Bybit founder Ben Zhou said that the partnership allowed his team to reach people who are new to the crypto space.

In March, Crypto.com partnered with carmaker Aston Martin’s Formula 1 team. With the deal, the brand’s F1 cars will display advertisements for the exchange. Jefferson Slack, an Aston Martin executive, said the move allows the carmaker to understand the crypto space more.