I noticed something interesting while scrolling recently. Ferrari released an NFT collection called F76 last year, a purely digital hypercar meant to celebrate their first win at Le Mans in 1949. The project was part of their Hyperclub program reserved for VIP clients, a rather classic concept.

But here’s the thing, the crypto community didn’t really appreciate it. And honestly, I understand why. The Ferrari NFT received quite a few criticisms because it simply lacked tangible utility. It’s a purely cosmetic NFT, with no real use case in the real world. Meanwhile, the NFT market has completely shifted direction. The projects that are working now are those that bring something tangible, not just a beautiful piece of artwork to look at.

It’s also striking to see how BMW approached the matter differently a few days later. Their collaboration with Bored Ape Yacht Club on a real physical car for ApeFest was much more aligned with what people are looking for now. It shows the difference between a NFT project conceived by a traditional brand without truly understanding the market and an approach that creates a real connection between the virtual and the real.

Ferrari had a great opportunity with this Ferrari NFT, but the execution was clearly behind the sector’s evolution. The market has moved, expectations have changed, and purely speculative or cosmetic projects are really starting to feel outdated.