Ferrari is set to host the first cryptocurrency auction for its 499P Hypercar, a triple winner of the 24 Hours of Le Mans. The event, exclusive to Hyperclub members, will use a dedicated token and integrate AI for security and optimization. Scheduled for 2027 as part of the World Endurance Championship, it builds on Ferrari's existing crypto payment options.
Ferrari announced an unprecedented auction for its 499P Hypercar, marking the brand's first fully crypto-based sale of a legendary racing car. The 499P, which secured triple victories at the 24 Hours of Le Mans, will be available exclusively to members of the Hyperclub—a select group of 100 endurance enthusiasts. Participation requires acquiring the Ferrari 499P Token, developed in partnership with Italian fintech firm Conio. Bidders will use this token on a secure platform, with transactions processed via blockchain for transparency and security. Accepted cryptocurrencies include bitcoin, ethereum, and USDC, which will be automatically converted to fiat currency.
The auction is slated for 2027, aligning with the World Endurance Championship to enhance its sporting prestige. Artificial intelligence will underpin the process, with algorithms analyzing real-time data to identify trends, prevent fraud, and improve the bidder experience. This initiative extends Ferrari's crypto strategy, which began accepting bitcoin, ethereum, and USDC payments for new vehicles in Europe in 2023, and expanded to BTC payments a year ago.
By targeting crypto-millionaires and technology enthusiasts, Ferrari aims to attract a new wave of investors to the luxury automotive sector. The Ferrari 499P Token represents more than a payment method; it embodies the brand's push toward innovation while upholding its heritage. Compared to rivals like Lamborghini and Porsche, which are just starting to explore crypto payments, Ferrari positions itself as a pioneer.
This move raises questions about the role of cryptocurrencies and AI in luxury auctions. While offering tailored security and appeal to younger wealthy clients, challenges such as crypto volatility and regulatory uncertainties persist. Experts suggest the auction could set a benchmark, potentially inspiring broader adoption in high-end transactions and blending tradition with technological advancement.