Ferrari Unveils Crypto Token for Fans to Bid on Iconic Le Mans-winning Race Car

Ferrari is making a bold move into the world of digital assets with the launch of a new cryptocurrency token that gives its fans a chance to bid on one of its most famous race cars, the Le Mans-winning Ferrari 499P.

According to Reuters, the Italian automaker will roll out the “Token Ferrari 499P” in collaboration with fintech firm Conio. The digital token will be available only to members of Ferrari’s Hyperclub, an ultra-exclusive group of 100 elite clients passionate about endurance racing.

“This initiative strengthens the sense of belonging among our most loyal customers,” said Enrico Galliera, Ferrari’s chief marketing and commercial officer. Token holders will be able to trade among themselves and participate in private auctions, including a once-in-a-lifetime opportunity to acquire the 499P. The project is expected to officially launch with the 2027 World Endurance Championship season.

Ferrari has been gradually embracing cryptocurrency. In 2023, it started accepting Bitcoin, Ether, and USDC for car purchases in the United States before extending the option to Europe. Payments are instantly converted into traditional currency, ensuring dealers don’t handle crypto directly.

Conio, currently seeking a MiCA license under the European Union’s crypto framework, called the initiative a major milestone in luxury tokenization. “The potential for development is enormous,” said Davide Rallo, Conio’s chief fintech strategist.

Ferrari’s timing aligns with a booming crypto market. The number of crypto millionaires has surged 40% this year to 241,700, as Bitcoin’s rally pushed total market capitalization above $3.3 trillion. The ranks of crypto billionaires have also grown, signaling that Ferrari’s digital leap may be perfectly timed.