Green flag raised as GT team launches first motorsports NFT
By Carine Lee
04:36, 6 July 2022
Lamborghini has launched a product that not even Jordan Belfort of Wolf of Wall Street fame can crash and it is starting the engine on the first NFT project in the motorsports world.
Go2NFT, Vincenzo Sospiri Racing, a multi-Championship winning GT team has partnered with Lamborghini Squadra Corse to launch an official NFT certification program.
The initiative will enable the team to test Go2NFT’s tech to certify racing car parts for authentication and auditability.
While the Ethereum (ETH) blockchain is the go to choice for NFT launches, with MATIC, AVAX and SOL also mainstream chains this latest project is taking a different route.
ETH to US dollar
Go2NFT is the corporate platform for the Skey Network project which combines the Internet of Things with blockchain and NFT to create what it terms the “Blockchain of Things”.
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Proprietary blockchain technology
Critically, this will be powered by its proprietary blockchain technology, a trend which another European firm recently told Capital.com was a rising trend across the crypto sector.
While gas fees are an issue for ETH chains like MATIC and SOL may not have the throughput needed for certain projects.
MATIC to US dollar
Skey Network’s tech has multiple uses from fire and rescue services in major cities to enabling access to secure buildings and housing developments and other smart city projects.
Protecting the ‘superbrands’
And now, the platform now enables brands to utilize NFT technology easily to create their own NFT certification.
“We are excited to pilot with Go2NFT and the renowned team at Skey Network to build NFT certification across our cars and other products to ensure we maintain the very highest standards of quality and control,” said Sospiri.
Go2NFT chief business officer, Boris Ejsymont, said: “We know that provenance, accountability and quality control are key challenges for superbrands wanting to protect their IP and we believe that NFT utility can help create more trust and transparency for brands and their fans.”
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