Ferrari aims at AI generation with crypto auction for Le Mans car

Written by Giulio Piovaccari

MILAN (Reuters) – Ferrari is tapping into cryptocurrency markets and tech-rich young people with a planned new digital token that its richest fans will be able to use in an auction for a Ferrari 499P, the endurance car that won three Le Mans titles in a row.

The plan is currently limited in scope and is an effort by the Italian sports car maker to capitalize on a trend among luxury brands seeking access to the growing wealth of young technology entrepreneurs, as artificial intelligence and data centers drive investments and markets around the world.

This comes after Ferrari, which is also developing its first electric car, began accepting acceptance Bitcoinand ethereum and USDC for purchasing cars in the US in 2023 and expanded the service to Europe last year.

Ferrari is working with Italian fintech firm Conio to launch the “Token Ferrari 499P” for members of the Hyperclub – which includes 100 of its most discerning clients, who have a passion for endurance racing – to trade amongst themselves and bid on the race model.

It is scheduled to make its debut at the start of the 2027 World Endurance Championship season.

“It’s about strengthening the sense of belonging among our most loyal customers,” Enrico Galliera, chief marketing and commercial officer, told Reuters.

With high-profile backers, including US President Donald Trump, cryptocurrency prices have soared, but regulators warn that loose oversight and speculative trading creates risks for investors and financial stability. Bitcoin has risen 60% in the past year.

The code will take some time to become a reality. Conio is applying for a license under the EU’s new cryptocurrency regulation, but sees room for growth.

“The development potential is huge,” said David Rallo, chief fintech strategist and project architect at Cuneo.

(Reporting by Giulio Piovaccari in Milan, additional reporting by Elizabeth Howcroft in Paris; Editing by Adam Jordan and Chizuo Nomiyama)