AuthentifyIT, a groundbreaking new platform that empowers digital ownership and verification of physical objects and digital assets, in partnership with official Formula 1 trackside retailer V12 Trackside and helmet manufacturer Bell Racing Helmets will provide digital passports for a limited edition range of replica mini helmets to be sold at the upcoming Formula 1 Las Vegas Grand Prix (17 November, 2023).
Founded in 2021, US/Belgium-based AuthentifyIT facilitates direct brand-to-customer communication. The partnership with Formula 1 ensures each mini-helmet is equipped with an NFC chip, which serves as an archive for the digital product passport, which comprises comprehensive technical data and a certificate of ownership for the product. Formula 1 fans who purchase a replica helmet can claim their Digital Product Passport (DPP), which certifies authenticity and ownership, by scanning the chip to associate their identity.
This allows fans to access the product’s vital information, as well as exclusive content offered by the brand. The line of limited edition mini helmets was first offered for sale trackside during the Italian Grand Prix at Monza in September 2023 and sold out the first day.
Driven by digitisation, there has been a substantial surge in the demand for sports memorabilia. With a market value of $26 billion in 2021, the sports memorabilia industry is projected to reach an impressive $227.2 billion in under a decade. AuthentifyIT’s proprietary technology increases the value of products by creating access to prestigious content and other features, including an exclusive set of photos related to the F1 driver, and a live channel through which retailers can communicate with their customers. By teaming up with AuthentifyIT, retailers are able to unlock such features for their customers, and transform the way they engage with their customers.
Commenting on the announcement, AuthentifyIT Co-Founder, Olivier Viaud said, “Formula 1 returns to Nevada for the first time in 40 years, so we’re especially pleased to be teaming up with Formula 1’s official retail partners to deliver a major innovation in the realm of branding and merchandise. AuthentifyIT’s platform enables producers and retailers to increase the value of all their products by capturing first-party data, which enables brands to create new services and products through seamless experiences. In this case, we have an exclusive partnership with the photographers to generate exclusive content for fans.”
V12 Trackside CEO Claude Améziane, said “We’re very proud to announce our partnership with AuthentifyIT for the upcoming F1 Grand Prix event in Las Vegas. The extra features offered by AuthentifyIT’s technology significantly enhance our offering to customers, adding a layer of authenticity and value that we’re confident will resonate strongly with F1 fans, and ensuring a heightened level of engagement from our customer base. We are delighted with the success of this collaboration and look forward to continuing to bring innovative and authentic experiences to our valued customers.”
AuthentifyIT’s digital passport technology has important implications for businesses by transforming mass market goods into unique objects, offers a new and personalised experience for each customer, leading to heightened engagement for consumers as well as new business opportunities for brands. A digital object passport also provides a means of product authentication, which combats counterfeiting, and instils confidence in customers, fostering brand loyalty. This, in turn, safeguards the brand’s reputation and nurtures ongoing customer relationships. This technology also has implications for businesses subject to ‘Right to Repair’ laws in the US and EU, as it allows for better tracking of mechanical and other components, as well as encouraging recycling.
F1 fans engaging with AuthentifyIT’s tech will experience a heightened level of customer engagement, enjoying exclusive content and offers while also benefiting from the security of knowing the value of their memorabilia has been secured and increased. For manufacturers, the platform means they can activate a new consumer engagement channel and stay connected with their consumers throughout the lifetime of their products.
AuthentifyIT establishes a deeper understanding of customer preferences and habits through data collection. This valuable insight allows the brand to tailor its product offerings accordingly. Furthermore, through this channel, brands can introduce a comprehensive rewards system, including games, competitions, and exclusive rewards for product owners.
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