Lamborghini launches its first NFT

Lamborghini has announced that it is releasing its first NFT. The automobile company stated that it is working together with Fabian Oefner, alongside NFT Pro and Sotheby's.

The CEO of Lamborghini, Stephan Winkelmann, argued that the younger generation values innovation and attempts to appeal to them by engaging with the NFT community. The CEO also claims that the company aims to safeguard the brand from knock-off NFT's and scam artists who profit from the Lamborghini name. Furthermore, the company hopes to capitalize on the popularity of NFTs.

Fabian Oefner designed a Lamborghini NFT called the 'Space Time Memory'. The image centres around a space theme and shows a Lamborghini launching into space from Earth while the car is breaking down into pieces. Furthermore, the company revealed that it will auction five NFTs on its website. The duration of each auction is 75 hours and 50 minutes, which is 'the exact time it took Apollo 11 to leave Earth and enter the moon's orbit'.

Notably, Winkelmann posited that the automobile company has no plans to accept cryptocurrency as a form of payment for its products. The CEO explained that the company is very 'conservative' about payment and went on to describe the company's plans to introduce hybrid vehicles to its entire roster.

Buy Ledger Nano S Crypto Hardware Wallet on Amazon