LUXURY NEWS

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16 | 02 | 22

Luxury cars and NFT: the obvious alliance

An unavoidable trend and flagship strategy for the luxury industry, the NFT market is constantly growing and conquering new fields as well as new customers. After fashion and art, it is now the turn of the automotive industry to bet on the dematerialization of its image and products. But why such a craze and what does the luxury car market expect from these 3.0 innovations? Here are some answers.

 

An evident alliance

 

Quick reminder: NFTs are digital assets that are integrated into the blockchain and whose authenticity is unfalsifiable. They guarantee a unique property right, specific to the holder.

 

The health crisis and the need to conquer new targets have given a boost to the metaverse and the NFT market. Indeed, through these technological innovations, brands are seeking to diversify their actions and find new avenues for growth. As Thibaut de La Rivière, director of Sup de Luxe, reminded us in our article entitled Luxury and metaverse, when influence gets involved: "This digital strategy not only allows to embody the values of the brand but also and above all to embody the relationship".

 

And if NFTs seemed to seduce only the fashion and art world, it is now the turn of the luxury car market to get hold of them.

 

 

Illustration with Ferrari and the launch of the first digital collection objects created in collaboration with the Swiss company Velas Network AG. Available from March 2022, this innovation is a first step in this universe for the famous brand which intends to continue its involvement in this field. In the same vein, let's mention Porsche but also Lamborghini which has launched its NFT collection.

For this, the Italian manufacturer has pushed the concept even further and offers its "Space Key", composed of a piece of carbon fiber composite material that was sent to the International Space Station (ISS) in 2019. This "key" features a unique QR code redirecting holders to a one-of-a-kind piece of digital art. With this breakthrough, Lamborghini confirms its commitment to innovation and proves that hybridization has a bright future ahead of it.

 

The luxury purpose: the multi-sensory experience

 

Indeed, this dematerialization of the luxury object is also accompanied by a new purchasing act. A customer experience where physical and digital are mixed for an immersion in perfect coherence with the brand's vision. Last October, the British manufacturer McLaren announced the creation of its own NFT platform: the McLaren Racing Collective. A project that includes a series of NFT vehicles for sale on the OpenSea platform where buyers can compete in a speed race in the metaverse. The winner of this race will then receive an exclusive NFT and a real McLaren car...

 

As with Lamborghini, this is a subtle mix of experience, physical possession and digital possession that is very successful, especially with the younger generation.  According to Thibaut de La Rivière, director of Sup de Luxe: "In addition to the experience, it is also the notion of rarity and exclusivity that seduces. As a result, brands today are banking on a hybridization of actions, thus mixing the metaverse and the real world with finesse."