30s Summary

Lamborghini is partnering with crypto payment service Transak to launch non-fungible token (NFT) creations, called Revuelto NFTs. These NFTs will be created in partnership with gaming and investment company Animoca Brands, through its gaming project called Fast ForWorld, which also includes digital car game Motorverse. Users can buy the NFTs using various payment methods, via Transak’s platform. Despite a recent data breach, Transak reassures its platform is secure. Despite a slump in NFT sales, Lamborghini hopes the NFTs will create unique experiences and deepen ties with its fans and collectors.

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Fancy car maker Lamborghini is teaming up with crypto payment service Transak for its soon-to-be-released non-fungible token (NFT) creation.

On Nov. 7, Lamborghini fans can create their own Revuelto NFTs through Lamborghini’s new partnership with the gaming and investment company Animoca Brands, named Fast ForWorld.

The cool part? These NFTs allow you to drive virtual Lamborghinis in a bunch of video games developed by Motorverse, another project by Animoca Brands focused on digital cars.

Transak has announced that it’s going to be the “NFT Checkout” buddy for the Fast ForWorld project. It means that users can pay via their platform using different methods, including card payments and direct bank transfers.

Even though Transak had a data leak issue recently, they’ve reassured users that their platform is secure for payment transfers. They had a data breach on Oct. 21 with 92,000 users, which was around 1.14% of Transak’s users, affected after a phishing attack. However, Transak was clear in saying that “no financial information” was compromised.

Despite the current slump in sales of NFTs or digital collectables, Lamborghini’s diving headfirst into the NFT space. Even though NFTs had a $356 million monthly sales volume in October, showing an 18% rise compared to September, it’s still way lower than the market peak in March 2024, when NFTs had a sales volume of $1.6 billion.

According to Harshit Gangwar, the marketing and investor relations head at Transak, Lamborghini is using NFTs to create unique and immersive experiences, describing NFTs as a new way for premium brands like Lamborghini to deepen their ties with their fans and collectors by offering exclusive digital assets and experiences that have a long-lasting appeal. He mentioned that despite market flux, NFTs still click with “specialized, high-value communities” drawn to “exclusive, brand-added content”.

Gangwar thinks it’s less about immediate sales volume and more about preparing for a digital future where ownership, brand interaction and community engagement happen in virtual environments.