Ducati has entered into a partnership with NFT Pro, which will see it enter Web 3.0.
Web 3.0 is essentially the section of the internet where cryptocurrencies and NFTs ‘live’. It is the place where you can spend money on nothing.
Ducati’s partner in this Web 3.0 venture, NFT Pro, is a “white-label NFT solution for enterprises, helping brands strategize, create, and sell NFTs to customers, fans, and collectors,” according to a Ducati press release.
Given the current state of crypto, and NFTs in particular, based on that description, NFT Pro’s advice to Ducati for its NFT strategy perhaps should have been “don’t bother.” That, evidently, was not their advice.
Instead, Ducati says “Upcoming Ducati projects will be deployed using Ripple, the leading blockchain partner providing technical support on the ultra-fast, low-cost, and carbon-neutral XRP Ledger (XRPL) blockchain.”
Ripple is currently in the middle of a lawsuit with the Securities Exchange Commission (SEC) in the US which was brought about when the SEC accused Ripple of “raising over $1.3 billion through an unregistered, ongoing digital asset securities offering,” according to Proactive Investors.
FX Street says that the SEC “is likely to pursue the defendant until a favourable outcome for the Commission has been achieved.”
Anyway, Ducati says its partnership with NFT Pro “confirms the importance of the digital world for the experiences it offers its fans.
“Over the next few months, a series of WEB 3.0 activities will be developed through the creation of new digital aggregation spaces, NFT collections and opportunities to participate in the new activities typical of the Web 3.0 universe, already relevant in the cryptocurrency community.”
Ducati says that it has “been a pioneer in embracing new technologies to engage, entertain and nurture the passion of the large community of its fans around the world,” thanks to its previous digital endeavours. Ducati includes in this that it sold the first motorcycle online on 1 January, 2000, and created a blog where Ducati fans could exchange their views with management, or chat with the manufacturer’s riders. Additionally, Ducati has a social media presence, and an official app to which its production bikes can connect.
However, there is a small – or large – difference between, for example, selling a motorcycle online, or having a bike connect to an app; and NFTs. When you buy a motorcycle online, the bike you receive has value in physical reality.