Ducati, the renowned Italian motorcycle brand, is gearing up to make its first foray into the NFT world with the launch of its inaugural collection on the XRP Ledger. The collection, set to launch this week, will be distributed free of charge to fans. Ducati had first announced its partnership with Ripple in 2022.
Ducati, the famed Italian motorcycle brand, is on the brink of making its NFT debut with the launch of its first-ever collection on the XRP Ledger.
The Bologna-based company recently announced that it will officially launch its first series of non-fungible tokens (NFTs) in partnership with Ripple. The digital art collection, which will be distributed to users free of charge, will consist of a video sequence of Ducati logos on motorcycle tanks produced since 1946.
The Italian company, owned by Lamborghini, first announced its partnership with Ripple in mid-2022, revealing plans to develop a Web3 strategy. Digital spaces offer an innovative way to provide a new experience to enthusiasts and tell the story of the company’s past, present, and future, Ducati added.
“Entering WEB 3.0 is another way of getting closer to the Ducatisti community, further expanding the number of services we offer,” said Claudio Domenicali, CEO of Ducati, in a press release at the time. “It also represents an opportunity to meet and introduce ourselves to a new community of NFT enthusiasts, giving them the chance to live unique Ducati-style experiences and collect the digital assets we will develop exclusively for this new dimension of the brand.”
The launch of Ducati’s first NFT is scheduled for July 26, according to the company’s announcement. Users interested in receiving the collectibles will need to register within seven days of the launch date.
Like most NFT drops, those who secure the first collectible will gain access to subsequent releases. While there is little news about what the future holds beyond this first collection, Ducati has said that this initial launch is a gift that the brand wants to give to its fans.
Furthermore, it hinted on its website that “in the coming months we will see the creation of new digital aggregation spaces, NFT collections, and opportunities to participate in the new activities typical of the web3 universe, which are already relevant in the cryptocurrency community.” Ducati’s future projects will also be implemented using the XRP Ledger.
While the blockchain that Ripple promotes is not the preferred option for minting NFTs, the platform has been making inroads in the sector over the past year. According to Ripple, from the deployment of the XLS-20 token standard in November to March 2023, over 1 million NFTs have been minted on the XRP Ledger.
The news of Ducati’s impending NFT launch comes shortly after a partial victory for Ripple in a legal case with U.S. regulators. The partnership with a globally renowned company like Ducati is another endorsement for the blockchain company, which is looking to boost its global business after being hit by regulatory litigation.