Lamborghini releases blockchain collectible of Huracan sports car – Ledger Insights

Last week, Italian sports car manufacturer Lamborghini announced a blockchain digital stamp of its recently launched Huracán EVO RWD Spyder. Lamborghini launched the car collectible in partnership with the Italian BITSTAMPS app. 

Volkswagen owned Lamborghini has a narrow range of luxury car models, each of which sells for over $200,000. The new Huracan is the first to be featured 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 just like a paper stamp, and users can buy, collect, store and resell these blockchain digital assets. The Huracan stamp can be accessed through the BITSTAMPS app, and only 20,000 of the limited edition stamps available. 

Today strong stamp collections are sold for millions at auction. But paper degrades so storing these stamps for years is difficult and requires maintenance. 

BITSTAMP is the digital way of collecting stamps, and apart from enhancing authenticity, the stamp will stay on the blockchain forever. That’s in theory, because technology comes and goes, and in future the technology will need to exist to read a legacy blockchain.

The collectible is considered a stamp rather than just an image, because the user can incorporate it on e-postcards utilizing the platform. 

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

The mobile application can be used to view a collection on the blockchain and store the certificate of ownership. With blockchain recording the movement of the stamps, their history will be readily available to buyers. 

Blockchain collectibles are becoming popular as they enable marketing firms to reach out to fans across the globe while guaranteeing authenticity. Some firms involved in blockchain collectibles include Fantastec and Panini America, among others. 

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