Luxury automaker Ferrari is launching a digital token to offer exclusive experiences and deepen loyalty among its most elite customers, marking a further embrace of cryptocurrency technologies by the high-end brand.
The “Ferrari 499P Token” is being developed in partnership with Italian fintech firm Conio. It will be made available exclusively to the 100 members of Ferrari’s Hyperclub, a private network of its most dedicated clients.
Token holders will gain access to private digital auctions, including a unique opportunity to acquire the Le Mans-winning Ferrari 499P luxury vehicle. This move was announced Saturday, according to Reuters.
Enrico Galliera, Ferrari’s Commercial and Marketing Director, stated the initiative aims to strengthen the sense of belonging among the brand’s most loyal customers. Token owners will also be able to exchange the digital assets among themselves.
The new token program is set to officially debut with the start of the 2027 World Endurance Championship season.
This project follows Ferrari’s earlier steps into the digital asset space. In 2023, the company began accepting payments in Bitcoin, Ether, and USDC for car purchases in the United States, a service later extended to Europe.
Ferrari maintains a cautious approach to crypto transactions. Its dealerships do not directly manage cryptocurrencies; instead, payments are automatically converted to fiat currency and transferred to dealer bank accounts.
Conio, Ferrari’s fintech partner, is currently seeking a license under Europe’s Markets in Crypto-Assets (MiCA) regulatory framework. Davide Rallo, Conio’s Fintech Strategy Director, described the collaboration as a milestone in luxury tokenization.
Rallo indicated the development potential in this sector is enormous, noting that luxury brands are increasingly exploring blockchain technology to digitalize exclusive experiences, from art to collector automobiles.
The token launch coincides with significant growth in the cryptocurrency market. Reuters data shows the number of crypto millionaires globally surged by 40% in the last year, reaching 241,700 individuals.
The number of people holding over $100 million in cryptocurrencies grew by 38% to 450. Crypto billionaires increased by 29%, from 28 to 36, over the same period.
This expansion has been fueled by a rebound in Bitcoin’s price and a total crypto market capitalization that exceeded $3.3 trillion in mid-2022.
Ferrari is positioning itself at the forefront of luxury brands integrating blockchain into their client loyalty strategies. The tokenization of exclusive opportunities, such as the 499P auction, highlights a growing trend where digital assets represent status and access.