Lamborghini Releases Blockchain Collectible of Huracan Sports Car

Lamborghini Releases Blockchain Collectible of Huracan Sports Car

Blockchain
May 19, 2020 Editor's Desk
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Last week, Italian sports car manufacturer Lamborghini declared a blockchain digital stamp of its lately launched Huracán EVO RWD Spyder. Lamborghini launched the car collectible in collaboration with the Italian BITSTAMPS app. Volkswagen owned Lamborghini has a restricted variety of luxury car models, each of which trades for over $200,000. The new Huracan is the
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Last week, Italian sports car manufacturer Lamborghini declared a blockchain digital stamp of its lately launched Huracán EVO RWD Spyder. Lamborghini launched the car collectible in collaboration with the Italian BITSTAMPS app.

Volkswagen owned Lamborghini has a restricted variety of luxury car models, each of which trades for over $200,000. The new Huracan is the first to be highlighted on a digital stamp and is part of the Automobili Lamborghini Collection. Blockchain digital stamps for 29 other models of Lamborghini make up this collection.

Each of these stamps will be unique and recorded on the blockchain. The digital version functions as a paper stamp and users can purchase, collect, store, and resell these blockchain digital assets. The Huracan stamp can be accessed by the BITSTAMPS app, and only 20,000 of the restricted edition stamps available.

Today strong stamp collections are marketed for millions at auction. Although paper deteriorates, so collecting these stamps for years is challenging and needs maintenance.

BITSTAMP is the digital way of accumulating stamps, and aside from improving authenticity, the stamp will stay on the blockchain forever. That’s in theory because technology evolves and goes, and in future, the technology will require to survive to read a legacy blockchain. The collectible is deemed a stamp rather than just an image because the user can include it on e-postcards using the platform.

Each stamp is actually a token on the Ethereum public blockchain issued by BITSTAMP. The value of the stamp is reliant on market interest, just like any other collector’s piece. Since only a limited number of stamps are available, the rarer ones like the Lamborghini collection will likely appreciate over time.

The mobile application can be utilized to see a collection on the blockchain and store the certificate of ownership. With blockchain recording the transfer of the stamps, their history will be readily accessible to buyers.

 Blockchain collectibles are becoming famous as they allow marketing firms to reach out to fans across the world while guaranteeing authenticity. Some firms included in blockchain collectibles involve Fantastec and Panini America, among others.

Animoca Brands is the official licensee of Formula 1’s blockchain game F1 Delta Time and regularly auctions official team cars in the form of tokens.

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