Ferrari is making its debut in the cryptocurrency space with plans to launch a digital token that gives its top clients the chance to bid on one of its legendary race cars, the Le Mans-winning Ferrari 499P.
Developed in partnership with fintech company Conio, the “Token Ferrari 499P” will be offered only to members of Ferrari’s Hyperclub, a private group of 100 exclusive customers who share a passion for endurance racing, according to a Reuters report published Saturday.
Token holders will be able to trade among themselves and access unique auctions, including one for the iconic 499P. The program is expected to launch in sync with the 2027 World Endurance Championship season.
“This initiative is about reinforcing the sense of belonging among our most loyal customers.”
Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer.
Ferrari Deepens Its Crypto Integration
Ferrari’s latest token project builds on its growing involvement in digital assets. In 2023, the carmaker began accepting Bitcoin (BTC), Ether (ETH), and USD Coin (USDC) as payment for car purchases in the U.S., later extending the service to Europe.
The company’s crypto payment system allows customers to pay with digital currencies without requiring dealers to handle them directly, transactions are automatically converted into fiat and deposited into bank accounts.
Conio, which is currently seeking a license under the EU’s Markets in Crypto-Assets (MiCA) framework, called the initiative a landmark in luxury tokenization. “The potential for development is enormous,” said Davide Rallo, Conio’s chief fintech strategist.
Surge in Crypto Wealth Fuels Ferrari’s Strategy
Ferrari’s latest move aligns with the rapid rise of crypto wealth worldwide. Over the past year, the number of crypto millionaires has jumped 40% to 241,700, driven by Bitcoin’s surge and a broader market rebound that lifted total crypto market capitalization beyond $3.3 trillion by mid-2022.
Meanwhile, the number of individuals holding more than $100 million in digital assets climbed 38% to 450, and the count of crypto billionaires rose 29% to 36, underscoring the growing influence of ultra-wealthy crypto investors.
