Lamborghini-backed GT Racing Team (VSR) to Authenticate Car Parts Using NFTs
Vincenzo Sospiri Racing (VSR), a GT racing team, backed by Lamborghini's motorsport division, partners with non-fungible token (NFT) platform Go2NFT to launch a program that verifies racing car parts with NFTs.
Former racing champion Vincenzo Sospiri from the VSR noted in a statement that their team will develop NFT certification for its race vehicles using Go2NFT and blockchain platform Skey Network. They will be able to assess and ensure the quality of the car parts.
“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,” said Vicenzo Sospiri.
VSR aims to expand the NFT certification program to include official merchandise and other products in addition to auto parts.
According to Boris Ejsymont, an executive at Go2NFT, their team is aware of the difficulties that companies experience in securing their intellectual property and thinks that NFTs can offer a solution. He noted:
“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.”
In 2022, the worlds of motorsport and cryptocurrency have collided. In February, the cryptocurrency trading platform Bybit announced a $150 million partnership with the Formula 1 Red Bull Racing team. Ben Zhou, the founder of Bybit, said in an interview with Cointelegraph that the collaboration helped his company connect with people who were unfamiliar with the cryptocurrency industry.
Aston Martin's Formula 1 team also partnered with Crypto.com. The exchange will have adverts on the company's F1 cars as part of the agreement. Aston Martin CEO Jefferson Slack stated that the move enables the automaker to better understand the crypto space.