News - Ferrari NFT sold for US$2.5 million

By Ted Maas

Ferrari NFT sold for US$2.5 million

Polygon (MATIC)
ferrari NFT

A Ferrari F40 has been sold for millions on a luxury marketplace. In addition to the iconic sports car, the sale was also clinched on the Polygon blockchain in the form of an NFT.

Yesterday, July 19, an unknown buyer purchased the NFT of a Ferrari F40 through the luxury items marketplace Altr. The platform issues digital proof of ownership in the form of Non-Fungible Tokens (NFT) for all luxury items sold. For now, the iconic sports car remains the property of Altr.

"All collectibles will be held by Altr's Oracles in secure storage facilities until the NFT holder decides to retrieve the physical collectible", the platform said.

In a tweet, Altr explains that the car was sold in just 48 hours for about US$2.5 million. According to technical details, the Ferrari F40 was built in 1990 and has only 24,000 kilometers on the odometer. German luxury car manufacturer Porsche launched its own NFT collection a few months ago. The company set a price of 0.911 Ether per NFT as a tribute to the Porsche 911.

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