NFT’s and Cars? : A Lamborghini Roadtrip
Introduction
Volkswagen’s subsidiary Lamborghini has launched their first NFT campaign this year with the promise of allowing users to “experience new adventures and perspectives” that only Lamborghini can them with. Lamborghini states that they are “embarking on a digital journey” and are “pushing the boundaries of design, experience, innovation and emotion” with this series.
How is Lamborghini Using NFTs?
Essentially, Lamborghini is releasing a limited series of NFT’s that will be priced at $196.38 with only 1,963 in the collection as to commemorate the gnesis of Lamborghini’s 1963 foundation. Completion of their challenge to acquire all four pieces in the standard collection will award the user with a silver puzzle piece. If they are able to acquire all rare NFT’s, then the user will receive a gold puzzle piece. Thus, Lamborghini is rewarding those who purchase the NFT’s and win their challenge with a physical reward. There are essentially, a total of five tangible items that are paired with their digital works, which could potentially hold value even if NFT’s fizzle out.
Has it helped them reach Marketing Objectives?
The plan itself will last a period of 8 months with several different releases starting in September of 2022. However, this is all culminating to a special event that the company is currently withholding details of. Lamborghini states that from a marketing perspective they always try to be unexpected and that this campaign with NFTs furthers that ideology by perpetuating their core value of being different. Lamborghini feels that by connecting the nontangible with the tangible through NFTs, they are able to allow Lamborghini fans to enjoy Lamborghini in a different space and medium. Since reception has been fairly positive since the launch of the campaign, it is safe to say Lamborghini has been successful in reaching their internal goals.
Will it Fade or is it Here to Stay?
It is difficult to say whether or not NFTs will stay in the spotlight or if something else will take over. Recent issues with crypto current regulation such as the failing of FTX, a crypto exchange website have made people feel less confident in crypto and its byproducts as a whole. It is evident Lamborghini feels the same way as they have released tangible rewards along with the release of their NFTs so that value from the purchase can still exist even if NFTs eventually lose their value.
