Car Manufacturers Dive into NFTs

Car Manufacturers Dive into NFTs
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Lamborghini issues DMCA shutdowns, while Ferrari explores the metaverse and NFTs

Big car manufacturers like Lamborghini and Ferrari are tapping into the NFT space. However, both in very different ways. Ferrari is exploring the possibilities the metaverse and NFTs have to offer. On the other hand, Lamborghini issued DMCA shutdown notices to NFTs and NFT collections featuring the company’s models. 

In a recent earnings call, Ferrari executives discussed that the company is actively exploring a venture into web3, the metaverse and NFTs. While there are no other official mentions of such activity, openly stating their interest during such an important meeting is a good indication. It will be exciting to see Ferrari-branded products in the digital space, whether as an estate in the metaverse, or as an NFT collection. 

Unfortunately, competitor Lamborghini is taking a very different approach. In the past several days, crypto Twitter erupted with complaints from NFT artists and creators. According to the tweets, Lamborghini representatives are approaching creators with Digital Millennium Copyright Act shutdowns. Interestingly, while issuing DMCA’s Lamborghini also released their first-ever NFT project Space Time Memory in collaboration with Swiss artist Fabian Oefner. 

The NFT space has been attracting big brands from the mainstream world for months now. Starting with fashion brands like Gucci and Dolce and Gabbana, to gaming companies like Ubisoft and Square Enix. Now car manufacturers are also making the jump. 

Car manufacturers are into NFTs, but who has the right approach?

While both of these huge car manufacturers and brands are exploring the NFT space, they are doing it in a very different fashion. Ferrari has only tentatively mentioned their interest into the space, without taking serious action as of now. Still, many in the NFT space might argue this is a better way to start exploring. 

On the other hand, Lamborghini is taking direct measures in order to claim copyright, and have only their branded products on the NFT market. While this might be the way things work in the real world, the crypto community is definitely not happy. 

It is true that some of the designs that have been slapped with DMCA’s bear a resemblance to Lamborghini models. However, the crypto community is not happy with Lamborghini’s decision. And after all, they are the most likely audience for the car manufacturer’s own NFT projects. The battle cry ‘wen lambo?’ has been synonymous with the ambition of the crypto community, but perhaps they will now stop making that reference.

DappRadar will continue monitoring the NFT space as more big names join the hype. It will be interesting to see whether Ferrari makes the jump as alluded to. We’ll also keep a close eye on Lamborghini’s further decisions regarding the space. To learn the latest NFT news first, join DappRadar PRO. It gives you access to the most up-to-date NFT sales data, as well as exclusive Discord discussion channels. 

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