Ferrari Targets AI Generation With Crypto Auction For Le Mans Cars

Ferrari and Conio, launched the Ferrari 499P Token for Hyperclub members (photo: x @newswatchplusph)

JAKARTA Ferrari plans to enter the crypto market and attract the attention of the younger generation who are familiar with technology through the launch of a new digital token. This token can later be used by Ferrari's richest fans to participate in the Ferrari 499P car auction, the endurance car that has won the Le Mans event three times in a row.

This step is still limited on a small scale and is an effort by the Italian sports car manufacturer to follow trends among luxury brands that want to reach a new generation of young entrepreneurs in the technology sector, especially whose wealth increases along with the rapid growth of artificial intelligence (AI) and data centers around the world.

This latest move follows Ferrari's policy of starting in 2023 starting to accept payments using Bitcoin, Ethereum, and USDC for car purchases in the United States, as well as expanding the service to Europe last year.

Ferrari is working with Italian fintech company Conio to launch the Ferrari Token 499P which is intended for Hyperclub members of the exclusive community consisting of around 100 of Ferrari's most elite clients and endurance racing enthusiasts. This token can later be traded between Hyperclub members and used to bid for the race car model.

The token is scheduled to debut along with the start of the 2027 World Endurance Championship season.

"The goal is to strengthen the sense of belonging among our most loyal customers," said Enrico Galliera, Ferrari's Chief Marketing and Commercial Officer, quoted by VOI from Reuters.

Supported by well-known figures including US President Donald Trump, crypto prices have spiked sharply even though regulators warn of risks due to weak surveillance and speculative activity in the market. Bitcoin itself has risen by about 60% in the past year.

However, the launch of this token still takes time. Conio is currently applying for a license under the new European Union crypto regulation, but remains optimistic about his prospects.

"The potential to develop is huge," said Davide Rello, Chief Fintech Strategist Conio and project architect.