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

Former racing champion Vincenzo Sospiri said this would allow them to control and ensure the quality of their auto parts.
Vincenzo Sospiri Racing (VSR), the GT racing team backed by Lamborghini’s motorsport division, has announced its partnership with non-fungible token (NFT) platform Go2NFT to launch a certification program for racing car parts.

In an announcement sent to Cointelegraph, former racing champion Vincenzo Sospiri of VSR mentioned that their team will conduct NFT certification for their racing cars using Go2NFT and the Skey Network blockchain platform. This will allow them to control and ensure the quality of auto parts. He explained that:
“It also imposes a great responsibility to ensure that we can securely authenticate and verify every part of our racing fleet to track performance and ensure provenance.”

In addition to auto parts, VSR also plans to expand the NFT certification program to official merchandise and other products. According to the team, this will give fans peace of mind when purchasing branded merchandise.

Related: Animoca Enters Crypto Racing Games With Latest Acquisition

Boris Eisymont, CEO of Go2NFT, mentioned that his team understands the challenges brands face when it comes to protecting their intellectual property and believes that NFTs can provide a solution. Eisymont said that:

“We believe the NFT utility can help create more trust and transparency for brands and their fans. This project with VSR is just the start of many similar collaborations for beloved brands around the world.

In 2022, the world of racing and cryptocurrencies collided well. In February, Formula 1 racing team Red Bull Racing entered into a $150 million partnership deal with cryptocurrency exchange Bybit. In an interview with Cointelegraph, Bybit founder Ben Zhou said the partnership has allowed his team to bring in people who are new to the crypto space.

In March, Crypto.com partnered with automaker Aston Martin’s Formula 1 team. Under the terms of the deal, F1-branded cars will run adverts for the swap. Jefferson Slack, CEO of Aston Martin, noted that the move gives the automaker a better understanding of the crypto space.

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