Ferrari is stepping into the crypto arena with plans to launch a digital token that will let its most exclusive fans bid on the legendary Ferrari 499P — the Le Mans-winning endurance racer.
According to a Saturday report from Reuters, the Italian automaker will release the “Token Ferrari 499P” in collaboration with fintech firm Conio. The token will be available only to members of Ferrari’s Hyperclub — an ultra-exclusive circle of 100 elite clients devoted to endurance racing.
“This initiative is about strengthening the sense of belonging among our most loyal customers,” said Enrico Galliera, Ferrari’s chief marketing and commercial officer.
Token holders will be able to trade among themselves and join private auctions, including one for the 499P. The program is slated to launch alongside the 2027 World Endurance Championship season.
Ferrari accelerates crypto strategy
Ferrari has been increasingly open to cryptocurrency. In 2023, the automaker began accepting Bitcoin, Ether, and USDC for car purchases in the U.S., later extending the service to Europe last year.
The company’s crypto payment system does not require dealers to handle digital currencies directly. Instead, customers’ crypto payments are instantly converted into fiat and deposited into bank accounts.
Conio, which is seeking a license under the EU’s Markets in Crypto-Assets (MiCA) framework, called the Ferrari token project a major step in luxury tokenization. “The potential for development is enormous,” said Davide Rallo, Conio’s chief fintech strategist.
Crypto wealth on the rise
Ferrari’s latest move coincides with a surge in crypto millionaires, which grew 40% over the past year to 241,700, fueled by Bitcoin’s rally and broader market growth that pushed total crypto market capitalization past $3.3 trillion by mid-2022.
The number of individuals holding over $100 million in crypto rose 38% to 450, while crypto billionaires increased 29% to 36 this year.
