Ferrari is entering the world of cryptocurrency with plans to launch a digital token that will allow its wealthiest fans to bid on one of its most legendary racing cars, the Ferrari 499P, a Le Mans-winning endurance model.
The Italian carmaker will issue a “Token Ferrari 499P” in partnership with fintech company Conio, exclusively for Hyperclub members, a private network of 100 elite clients with a passion for endurance racing, according to according to a Reuters report on Saturday.
“This is about strengthening the sense of belonging among our most loyal customers,” Enrico Galliera, Ferrari’s chief marketing and commercial officer, is reported to have said.
Token holders will be able to trade with each other and participate in exclusive auctions, including one for 499P. The initiative is set to debut alongside the 2027 World Endurance Championship season.
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Ferrari expands crypto push
Ferrari has already shown its openness to crypto. In 2023, it began accepting Bitcoin (BTC), Ether (ETH) and USDC (USDC) as payment for car purchases in the United States before expanding the service to Europe last year.
However, Ferrari’s crypto payment tools do not require dealers to handle cryptocurrencies directly. Instead, customers’ cryptocurrencies are automatically converted to fiat currencies and sent directly to bank accounts.
Conio, which is applying for a license under the EU’s Markets in Crypto Assets (MiCA) regulation, described the project as a milestone in luxury tokenization. “The potential for development is huge,” said Davide Rallo, Conio’s chief fintech strategist.
Related: How to buy a car with Bitcoin (BTC) in 2025
The number of crypto millionaires increased by 40% this year.
Ferrari’s move comes amid a growing number of crypto millionaires, which has increased by 40% over the past year to 241,700, fueled by the rise of Bitcoin and a broader market boom that has pushed the total capitalization of the crypto market above $3.3 trillion by mid-2022.
The number of individuals holding more than $100 million in cryptocurrency increased by 38% to 450, while the number of crypto-billionaires increased by 29% to 36 this year.
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