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When Lambo? Crypto Startup Tokenizes A Supercar

Supercar collector Mario Bauer is tokenizing his limited edition Lamborghini Aventador LP720/4 50th anniversary edition.

What Happened: According to an announcement shared with Benzinga, Bauer’s car will be tokenized in the form of a non-fungible token (NFT) that will also give its owner the right to use it in both the physical world but also digital world, with future video game integrations. Two more cars owned by the same collectors will also be digitized in the same fashion.

NFTs are unique tokens because there are no two that are the same, which makes them different from standard crypto assets such as Bitcoin. The lack of fungibility makes those tokens particularly suitable for digitizing physical goods, as each token can be linked to a physical object even when released in series.

An animated video of the car in question was already minted as an NFT on Mar 28 by physical goods tokenization firm Digistoxx and released on the Rarible marketplace. The company specializes in digitizing super and hypercars and is currently working on releasing nine more cars as NFTs in collaboration with other collectors.

The NFTs are hosted on the Ethereum (CRYPTO: ETH) blockchain and will be made compatible with the Enjin (CRYPTO: ENJ) protocol in the future. This kind of token enjoyed unprecedented attention over the last few months but is seemingly heading towards what some reports described as a “silent crash.”

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