You are here

Colnago auctions industry's first Non-Fungible Token for $8,600

Published May 26, 2021
No. No, we don't know what it means, either.

CAMBIAGO, Italy (BRAIN) —  A custom-painted Colnago C64 frameset that you can take home and ride and admire will cost you about $6,300. A Non-Fungible Token version of a C64 is worth about $8,600 currently, going by the results of an NFT auction that ended Tuesday.

Colnago claims to be the first bike company to create and auction an NFT, which gives its owner exclusive rights to a digital version of the bike in perpetuity. 

The Colnago NFT was auctioned on the platform. Somone identified only as "MTD-01" outbid one other would-be buyer to make the purchase using 3.2 Weth tokens, which according to Opensea were worth $8,592 at the time of the transaction. 

The C64 digital artwork NFT sold actually includes a variety of historic Colnago models. “The greatest thing about this is that our C64 NFT will never be replicated by us as a physical frame - it will only be digital,”  said Manolo Bertocchi, Head of Marketing of Colnago, before the auction. 

Colnago was sold to a UAE-based investment group last year for an undisclosed amount of real money.  The group, Chimera Investments LLC, also owns the UAE road cycling team, which won the Tour de France last year with Tadej Pogačar aboard a Colnago.

Join the Conversation