Lamborghini to open ‘Revuelto NFT’ mint with Animoca Brands, Transak
Luxury vehicle manufacturer Automobili Lamborghini will use the crypto on-ramp firm Transak for its upcoming non-fungible token mint.
On Nov. 7, Lamborghini will allow users to mint their Revuelto NFTs as part of the car manufacturer’s Fast ForWorld collaboration with Web3 gaming and venture capital firm Animoca Brands.
The NFTs will allow users to drive digital Lamborghinis in a wide range of games developed by Motorverse, an Animoca Brands project focusing on digital vehicles.
A digital Lambo on the Fast ForWorld website. Source: Lamborghini
In a press release sent to Cointelegraph, Transak said it would be the “NFT Checkout” partner for the Fast ForWorld project. The announcement noted that users can choose payment methods through Transak’s platform. This includes card payments and direct bank transfers.
Despite a recent data breach, Transak assures its users that the platform facilitates secure payment transfers. On Oct. 21, the crypto on-ramp platform suffered a data breach , with 92,000 users, about 1.14% of Transak’s user base being affected after a phishing attack. In an announcement, Transak said that “no financial information” was compromised.
Related: Transak secures Alabama license, expands US crypto services
NFT monthly sales volume downturn
Lamborghini’s venture into the NFT space comes amid a broader market downturn in Web3 digital collectibles.
In October, NFTs recorded a $356 million monthly sales volume. While the number shows an 18% increase compared to September, it’s still 353% lower than the market’s peak in March 2024, when NFTs had a volume of $1.6 billion.
Harshit Gangwar, the head of marketing and investor relations at Transak, told Cointelegraph that Lamborghini is diving into NFTs to create unique and immersive experiences. Gangwar added:
“For high-end brands like Lamborghini, NFTs represent a new way to deepen relationships with fans and collectors by offering exclusive digital assets and experiences that have long-term appeal.”
Gangwar said the strategy allows the car manufacturer to engage with its community better. He added that despite the market dip, NFTs still resonate with “niche, high-value communities” drawn to “exclusive, brand-aligned content.”
“It’s less about immediate sales volume and more about setting the stage for a digital future where ownership, brand interaction, and community engagement occur in virtual environments,” Gangwar said.
Magazine: gmoney’s anguish over ‘buying the top’ of CryptoPunks: NFT Collector
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum ETF staking yield likely to be approved under crypto-friendly 'Trump 2.0' SEC, Bernstein says
Analysts at Bernstein said that despite ether’s underperformance this year, its fundamentals look strong, and the risk-reward ratio is now attractive.The potential for staking yields to be approved for spot Ethereum exchange-traded funds under Trump, the recent inflection in ETF inflows, favorable demand-supply dynamics, and a surge in activity on the blockchain were outlined as factors driving a revival of interest.
XRP soars: Why has zero venture capital, no smart contracts, and low user numbers led to a market value of $180 billion?
The logic of the market never makes mistakes.
XRP's market value surpasses Pinduoduo and rises to 138th place among global mainstream assets
Bitwise analyst: Bitcoin's illiquid supply hits a record high, accounting for nearly 75%