VSR, an automotive racing team will create NFT certification for its car parts

Backed by Lamborghini, they seek to demonstrate another way in which NFTs can be used.

The Vincenzo Sospiri Racing (VSR) auto racing team that is backed by Lamborghini’s motorsports department announced last Tuesday that it is adopting non fungible tokens (NFT) to certify and authenticate factory car parts.

Similarly, the Lamborghini Squadra Corse-backed team, which has won several GT championships, said the move is part of a partnership with Blockchain platform, Skey Network, and Go2NFT, a specialist in creating corporate NFTs for businesses. Together they will start a certification program, which Vincenzo Sospiri believes will demonstrate another use case for NFTs.

The move is part of a pilot plan by the company Go2NFT, which specializes in creating corporate NFTs for enterprises.

As published by the «Cointelegraph» portal, former racing champion Vincenzo Sospiri of VSR mentioned that his team will create NFT certification for their race cars with Go2NFT and the blockchain platform Skey Network. This will allow them to control and guarantee the quality of the car parts. He explained:

«This also brings with it a great responsibility to ensure that we can securely authenticate and audit every part of our racing fleet to monitor performance and ensure provenance.»

Likewise, the team could also expand this use and explore digital collectibles for authentication of merchandise and other official products.

«We know that provenance, accountability and quality control are key challenges for superbrands that want to protect their intellectual property and we believe the NFT utility can help create more trust and transparency for brands and their fans,» said Boris Ejsymont, chief commercial officer at Go2NFT.

Use and benefits of NFTs for the brand.

NFTs will enable the GT champion to track all car parts and maintain a historical record on the blockchain. This will provide benefits such as unalterable certificates of authenticity, cost reduction by cutting down on middlemen, safer products and guaranteed quality, Go2NFT detailed.

VSR’s Vincenzo Sospiri also highlighted some key benefits of NFT integration. Being able to «securely authenticate and audit every part of our racing fleet» will allow for «performance monitoring and provenance assurance» while enabling the team to ensure it maintains «the highest quality standards.»

In this sense, VSR’s adoption of NFT is undoubtedly one of the most recent announcements of integration of this technology among celebrity and professional athletes.

However, it wouldn’t be the first time Lamborghini has made a connection to NFT, the luxury sports car brand launched its own NFT collection last year, and it’s not the only one in the automotive sphere to join the industry. Porsche, DeLorean Motor Company (DMC) and famed Formula 1 team and champion MacLaren are also among those who have entered the non-fungible token game.