In an effort to engage tech-savvy millennials and broaden its appeal among younger, affluent audiences, Ferrari is set to launch a digital token named ‘Token Ferrari 499P’.
This new initiative is part of Ferrari’s strategy to tap into the wealth of young tech entrepreneurs, with the digital token allowing fans to bid on the endurance car model that won three consecutive Le Mans titles. Ferrari has already made strides in the digital currency space by accepting Bitcoin and Ethereum for car purchases, a service now available in the U.S. and Europe.
Collaborating with Italian fintech company Conio, Ferrari targets its Hyperclub’s exclusive members, preparing for the token’s debut with the 2027 World Endurance Championship. However, the journey is not without its hurdles. Crypto markets are under regulatory scrutiny, yet Conio sees growing opportunities as they work to secure a cryptocurrency license under the EU’s new regulations.
(With inputs from agencies.)