One of the first (and still one of the best) use cases for tokenized assets (NFTs) on immutable public ledgers (blockchains) was fraud prevention. You could tokenize a physical item (make a “digital twin”), then follow (and authenticate) that item/token through its journey. Today, because NFTs (smart contracts) are easy to write, this is much easier to do.
Vincenzo Sospiri Racing (VSR), a GT racing team backed by Lamborghini’s motorsport department, has announced its partnership with NFT platform Go2NFT to launch a program that certifies racing car parts. For obvious reasons, VSR is also looking to expand the NFT certification program to official merchandise and its other products as well.
The “crypto winter” may be upon us – and mentioning NFTs may elicit eyerolls – but the utility of NFTs, blockchain, and the group of technologies that are empowering Web3 should not be in question.
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