How Supercars are Being Sold with NFT Auctions

There is a lot that has changed in the past 50 years, but one thing that has never changed, and will never change is our love for speed. Even if you’re not a car fanatic, people tend to value the thing that takes them from point A to point B. And if it can get you there quickly, well then that’s even better. Outside of Nascar and Formula One, the fastest automobiles on the planet are supercars. And now, one of the most interesting market crossovers in recent memory means that these same supercars are being sold with NFT auctions, according to recent reports sourced from Fair Betting Sites UK.

Coming to Terms with NFTs

Before we talk about supercars and NFT auctions, we should first try to come to terms with NFTs as a whole. If you, like many, don’t fully understand NFTs yet, don’t worry, we have you covered. NFTs, also known as non-fungible tokens, are unique pieces of digital identification. NFTs can take on any number of styles or types, covering everything from art to sports to supercars.

Each non-fungible token comes with a unique serial number that verifies its authenticity, as well as your ownership. NFTs can be released entirely uniquely, or in a limited number, but each one has only a certain number of authentic releases. With this scarcity comes the fluctuating market. Some people have seen massive profits thanks to the volatile market, and many compare the NFT trade to the prior boom shown with crypto.  

NFTs see releases from creators, artists, companies, and celebrities alike, and some even come with unique perks. For example, some NFTs can grant access to exclusive clubs or events. Some can grant you real-world access to horse racing events. And some can even help you buy your dream supercar.

Supercars and NFTs

In perhaps one of the coolest twists in the NFT saga, real-life supercars have entered the fold. Italian supercar powerhouse Lamborghini announced that they will auction off their last gas-operated Aventador with a 1 of 1 NFT. The sale comes as Lamborghini recently made public their plans to focus on pure electric and hybrid engine supercars. According to their CEO, Lamborghini’s move into the world of NFT is one that makes perfect sense. He feels that the NFT marketplace, like Lamborghini, is young and lively. And like NFTs, he feels that Lamborghini is more than a product or brand, it is a lifestyle.

Honestly, it’s hard to argue any of those sentiments. Outside of maybe Ferrari, Lamborghini is to sports cars what Kleenex is to tissues. When you think about the word supercar, it’s probably a Lamborghini that you picture. And now, they are being sold with NFTs. In April, Lamborghini sold the 1:1 Aventador NFT for $1.6 million. The buyer also got to attend a virtual meet and greet with artist Krista Kim and musician Steve Aoki. Although not the company’s first delve into the NFT world, it was no doubt the largest.

Chevy’s Next in Line

After seeing the media attention surrounding the Lamborghini NFT, Chevrolet decided to follow suit with their own NFT release for the Corvette Z06.  Chevrolet boasts that the owner of the NFT will not only own the NFT and the supercar, but also the exclusive “minted green” color. The auction took place in late June and the NFT owner now owns a complete 1:1 ride. While other automobile manufacturers have entered the NFT game, none but these two have given exclusive offers on limited edition supercars.

Where to Buy NFTs?

NFT marketplaces are popping up every day, so it’s important to stay up to date. But, here are a few of our favorite exchanges:

SuperRare

SuperRare is the exchange that hosted the Corvette Z06 auction, but the site has limitless options. Focusing primarily on art-based projects, this is a great choice for any prospective NFT buyers and sellers.

OpenSea

OpenSea is currently the largest NFT marketplace. Millions of buyers and sellers actively trade NFTs on a daily basis, and the options are endless. This is a great place for any type of person looking to get into NFTs.

Crypto.com

Last but not least, we recommend you definitely check out Crypto.com. The top name in crypto exchanges is also a great place to buy and sell NFTs. The options are vast, the site is user-friendly, and best of all, users can access and utilize their cryptocurrency wallet to make NFT transactions. This means you can buy, sell, and save your NFT and crypto profits all in one location. Whether you are experienced or new to NFTs, Crypto.com is a great option.

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