De Marchi will auction the “world’s only” authentic replica of Fausto Coppi’s 1953 De Marchi jersey.
The sale of the jersey, recently created by the company, will be auctioned in September using BlockStar’s blockchain platform which will authenticate the physical jersey while providing the first branded digital apparel twin.
The highest bidder will receive the first and only physical replica of the 1953 Coppi original jersey as well as the exclusive rights to the digital rendering of the original jersey. This digital twin will allow the winner to guarantee the authenticity of both the physical jersey.
De Marchi CEO Mauro Coccia said: “The De Marchi brand is proud to pay tribute to Italy’s greatest cyclist by harnessing BlockStar’s world-class technology to provide the winner with an authenticated, dual ownership of a true cycling artefact. This auction is a unique opportunity to collect not only the only authorized and one-of-a-kind physical replica of Fausto Coppi’s jersey, but also the digital rights to the piece.”
Through a partnership with IBM, BlockStar will use its blockchain-based proprietary platform to issue a Digital Authentic Good (DAG) token capable of both verifying the authenticity of the physical product and also storing the unique, certified, digital representation of Coppi’s original jersey. This digital twin of the actual original 1953 jersey will be readable via a digital wallet inside the winner profile page. The authorised duplicate will be irreproducible, confirming true ownership of the jersey.
Blockstar CEO Christian Ferri added: “As we prepare to launch this historic event, we are eager to kick off the next generation of brand-authenticated digital good sales. Both buyers and brands recognise how our blockchain-based platform can be used not only to guarantee the authenticity of physical goods, but also to provide customers with a certified, non-duplicable, digital twin that opens up an endless highway of opportunities in the digital world, such as in gaming, VR, social media and more fields we have not even entered yet.”
The official launch will take place on 4th September at EuroBike 2019 in Friedrichshafen, Germany, at 5.00pm CET, where a press news conference with De Marchi CEO, BlockStar CEO and Fausto Coppi’s son Fausto Coppi Jr. will kick-off the auction.
A countdown and ringing of the bell by Fausto Coppi Jr will symbolise the official start of the online auction which will run for seven days until 11th September at 5.00pm CET.
In addition to traditional currency, the auction will also accept several cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and USD Coin. Blockstar and De Marchi have partnered with Quantstamp, a blockchain security firm, to enhance the security of the smart contracts and website underpinning the sale.
The auction will be limited to a small group of pre-registered bidders. To learn more, be a member of the pre-registered bidders and stay up-to-date, sign up here.