Luxury automobile manufacturer Lamborghini is launching a non-fungible token (NFT) collection that’s out of this world. The initiative is a set of digital space keys.
In 2019, Lamborghini sent a piece of carbon fiber composite for research purposes to the International Space Station. Now, the material has returned from its space journey back to Lamborghini and will be shaped into five physical items branded as space keys. Each space key will have a digital twin piece of art as an NFT that will be accessible through scanning a QR code on the back of the physical asset.
The five keys will be sold through an auction. Lamborghini is already an expensive name with car prices starting at over $200,000, and it’s branding is associated with extravagance and high spending. Its fans like to show they have money. In addition, the scarcity of the collection will likely drive up prices, and the space component puts the product in a very exclusive class of items.
Lamborghini is partnering with NFT PRO for its latest digital asset initiative. Besides that, very little information about the collection was released such as date and time, auction house, or the artwork itself. The limited information is likely intended to create buzz and mystique.
“Innovation is a deeply rooted part of the Lamborghini DNA,” said Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini. “As a leading company for carbon fiber composite materials within the automotive sector we pushed boundaries two and a half years ago with the joint research project in space. Now entering the metaverse is again proof of Lamborghini always setting sail for new horizons. The NFT world has been calling to us, and we are excited about engaging with this very passionate and innovative community.”
This isn’t Lamborghini’s only NFT initiative, but it is the first since NFTs entered the hype phase. In early 2020, the auto company issued a series of digital postage stamps in collaboration with BITSTAMPS. It also uses blockchain to track the authenticity of vintage cars.
Meanwhile, Audi launched an NFT collection in China and Porsche has auctioned a car sketch as an NFT.