• Colnago presents the C64 NFT for May 11.
• NFTs could be the investment of the future, Colnago believes.
The bicycle manufacturer Colnago presents a “unique” opportunity to buy a special edition C64 NFT. This is a digital view of the uniquely designed C64 carbon fiber bike that the brand celebrates.
The masterpiece arises from 8 different models that the brand presents, including Concept 1998. This project was developed with the Ferrari brand. Also included are the ’95 C35 Crono and the V3Rs at the Tour de France in 2020.
The Colnago C64 NFT is for sale at the NFT auction, Opensea.io. However, unlike a physical offer, the winner will have no real items. There is no Colnago C64 bike up for an auction; everything is digital.
Manolo Bertocchi, Colnago Marketing Director, points out that: “The best thing is that we will not replicate our C64 NFT as a physical object; it is only digital.”
The price with which the auction starts is 5,515 Euros, and it opens on the 11th of May. This will be an actual custom-painted digital C64 bike frame.
What are NFTs?
NFTs are non-fungible tokens with a unique property; they cannot be replicated by someone else. Fungible, economically, means it is used to exchange, like money.
For example, five-dollar bills can be exchanged for a five-dollar bill that corresponds to the same value. But, a non-fungible token does not apply in this procedure. Therefore, a masterpiece like Picasso’s Last Supper cannot be changed or reproduced because only one exists.
NFTs are unique in every sense of the word and are backed by Blockchain technology. The records of token owners are kept in the ledger shared by the Blockchain. Although other people may duplicate the masterpiece, the official buyer of the NFT has all the power.
This concept of non-fungible tokens has been expanding for months, starting with Mike Winkelmann and a JPG file he published. This artist sold his work for $69.3 million in March, which set a new Blockchain system.
As Bertocchi points out, Colnago led the way to a tactic that other bike companies will include. Bertocchi said that: “Colnago will reach 67 years of history by being the first bicycle creator that brought innovations to the market that over time became a priority, and the art with NFT is no different.”
This news is perfectly set to enable the community to buy the tokens. Although this auction has brought negative responses from investors, many followers back it.
Colnago is known for displaying innovative, futuristic bicycle frames that all cyclists want to use. Now you can buy your own Colnago chart online, have a priceless item that will be worth thousands of dollars.