Luxury Car brand Lamborghini joins the NFT Bandwagon

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Luxury car brand, Automobili Lamborghini, has become the latest firm to join the Non-fungible token (NFT) bandwagon. Lamborghini announced an NFT collection that comprises five exclusive digital artworks accessible through ownership of special physical keys. 

Lamborghini’s NFT collection is one with an ‘incredible journey.’

According to a press release by Automobili Lamborghini, an Italian luxury car manufacturer, the company is releasing an NFT collection with a special story. The collection is made up of five exclusive space-themed digital artworks created by a yet undisclosed artist. The collection can be accessed by owning one of five special ‘Space Keys’ created by the same artist. 

The special thing about the physical Space Keys is that they are made from material that has been to actual space. The Space Keys are made from samples of carbon fiber Lamborghini sent to the International Space Station (ISS) in 2019 as part of a joint research effort. 

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More details of the artist’s identity and an auction date for the collection will be announced soon. It adds that the collection was made in cooperation with NFT PRO, an enterprise NFT solution that has worked with the likes of Adidas, Sotheby’s, and Juventus football club in bringing their NFT integration to the market.  

The NFT market continues to penetrate throughout leading  traditional firms

NFTs have been all the latest marketing gimmicks among leading brands. Last year saw brands cutting the food industry (Taco Bell, McDonald’s, Campbell’s), fashion brands (Louis Vuitton, Dolce & Gabbana, Nike, Gucci), sports teams and athletes (NFL, Juventus, Lionel Messi, Kobe Bryant), as well as technology companies (Atari) release NFT collections. Already in 2022, Samsung has also announced the integration of NFTs in its smart TVs. 

Some others including Adidas and Visa forked out hundreds of thousands of dollars to buy NFT pieces as an alternative investment strategy. Many of these brands are bullish on NFTs as they consider it to be the new gateway to the digital economy that is being built in Web 3 or the metaverse. 

The broader NFT market also saw massive adoption. This January, OpenSea, the biggest NFT marketplace, surpassed its previous all-time high of $3.42 billion set in August 2021 to establish a new all-time high to set a new all-time high of over $3.5 billion in Ether trading volume, as per data from Dune Analytics. OpenSea also witnessed its daily trading volume hit an all-time high of $261 million on Sunday and has sustained levels above $200 million for much of January. Even more recently, that record was once again broken.

Olivia Brooke

Olivia’s interests spans across the Cryptocurrency and NFT and DeFi industry. She remains as fascinated by cryptocurrencies today, as she was back in 2017, when she first started reading up about them. She’s actively on the lookout for the latest Crypto related stories. When she’s not writing, she’s catering to her pet chihuahua, or curating vegan recipes. Reach me at Olivia@coingape.com

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