Porsche vs. Lamborghini NFTs
Who wins? Lessons and learnings from the luxury car giants
👋 Hello everyone, gm, gm, welcome BACK to another edition of Overpriced JPEGs and OPJ PRO.
Last month, Lamborghini wrapped up its “Epic Road Trip” - an 8-month long NFT project that began last August.
Two weeks ago, the first Porsche 911 NFT color palettes were revealed - sending the project temporarily pumping.
We decided to dive into these two projects to better understand how key players in the luxury/sports car industry are approaching the industry.
What we found over the course of our research surprised us. Like many who had watched Porsche’ 911 drop from the confines of crypto Twitter, we had lukewarm (at best) feelings about the project. But we wanted to look beyond Twitter to better understand what the project did well, what it didn’t do well, and how it ranked in a category of its peers.
We'll be firing up our engines and navigating through a no-holds-barred comparison of these two iconic brands' NFT collections; examining key factors that make or break a luxury brand NFT project, and determining which automaker's NFT lineup reigns supreme.
Not the New Kids on the Block
Porsche and Lamborghini are not new to the NFT space.
Porsche’s first known foray into NFTs, believe it or not, was in July 2021. They auctioned off a 1/1 design sketch of their iconic 911 model on Superrare, which sold for 30.25 ETH ($54.2k)
In January 2022, Lamborghini dipped their toes into NFTs with their Space Key NFT. Then in April they incorporated a 1/1 NFT with the auction of their last Aventador LP 780-4 Ultima to be produced. This auction sold for $1.6 million!
After getting a taste of success, it is no surprise that they each decided to launch more “flagship” NFT projects.