Non-fungible tokens (NFTs) continue attracting more use cases in the sports industry, with sports institutions, brands, and sports apparel companies now leveraging the new tech to optimize the security of their products.
Vincenzo Sospiri Racing (VSR), a renowned GT racing team sponsored by the Lamborghini Motorsport department, it’s the latest sports team to adopt non-fungible tokens (NFTs) to verify the quality of the racing car parts. VSR has partnered with the Go2NFT platform to facilitate the program.
In an exclusive July 5 interview, Vincenzo Sospiri, the former champion of GT racing, confirmed the successful partnership with the non-fungible token (NFT) platform “Go2NFT” to launch a new NFT feature certifying racing car parts.
During the interview, Sospiri mentioned that the team anticipates leveraging Go2NFT to launch an NFT certification program for their race cars in the blockchain platform, Skey Network. The new functionality will allow the racing team to monitor and authenticate the quality of the car parts. He explained:
“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.”
Apart from authenticating car parts, the VSR aims to expand the NFT certification program to official merchandise alongside other products. According to Sospiri, the extended functionality would give fans secure shopping when purchasing branded goods.
While commenting about the new partnership, Boris Ejsymont, the top executive of the Go2NFT marketplace, said that he understands the challenges that many sports brands are currently facing, adding:
“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.”
Other Racing Cars Partnerships
The world of racing continues adopting blockchain technology, with this industry announcing successful partnerships in 2022. Earlier in February, Formula 1 racing team Red Bull Racing signed a $150 sponsorship deal with crypto exchange Bybit.
At the time, Ben Zhou, the founder of Bybit, said in an exclusive interview that the new partnership allowed its team to reach new people in the sport and crypto space.
Elsewhere, Crypto.com partnered with car manufacturer Aston Martin’s Formula 1 team to showcase advertisements for the exchange in March 2022. At the time, Jefferson Slack, an executive at Aston Martin, noted that the partnership allowed the car manufacturer to understand the crypto space more.
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