You are reading the article Exclusive Interview With Arun Balakrishnan, Ceo, Xceedance updated in March 2024 on the website Moimoishop.com. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested April 2024 Exclusive Interview With Arun Balakrishnan, Ceo, Xceedance1. Kindly brief us about the company, its specialization, and the services that your company offers. 2. With what mission and objectives, the company was set up? In short, tell us about your journey since the inception of the company?
Before co-founding Xceedance, I served as CEO for Berkshire Hathaway India. When Berkshire Hathaway decided to exit their India operations, I saw an opportunity to float a new idea to the management team – to set up a company that could provide technology and consulting services to the multiple insurance and reinsurance companies within the Berkshire Hathaway group.
Manish Khetan, Vice President, Berkshire India, and Amit Tiwari, Vice President and Head of Technology, Berkshire India, joined me in founding this new venture, and Xceedance was launched in 2013. To this day our mission remains singularly focused on leveraging deep-rooted insurance domain knowledge to support all facets of the insurance lifecycle. Xceedance prides itself on having in-depth expertise in how the industry operates and having people who’ve faced challenges themselves 70% of our team comes to Xceedance with an insurance industry background.3. Brief us about you and your contributions to the company and the industry.
I have 15 years of experience building startups, running companies as a CEO, and promoting startups as an investor. I have an entrepreneurial focus and have been involved with a series of early-stage startups, including building one of them, Xceedance, into a 100M USD ARR business in about 9 years, with no external funding. In my role as CEO at Xceedance, I manage a team of close to 2,600 professionals across multiple offices that caters to 138+ insurance industry clients across North America, Europe, and Australia.4. Kindly mention some of the major challenges the company has faced till now.
As we’ve grown over the past nine years there have been many challenges, the pandemic being the most recent one. However, as a team, we’ve always viewed challenges from the lens of opportunities. As an example, I’ve never seen as much capital flowing into the insurance business as there is right now, especially at a startup stage. This presents some exciting opportunities for us, not just as a partner but also as an investor. The last two years have been high-growth years for Xceedance, and that wave is continuing. That’s one area we are looking forward to from a market opportunity point of view.
The insurance sector, like many industries, faces a unique set of challenges. The team at Xceedance understands the insurance marketplace and works closely with clients within the market to adopt technology and be more data-driven in their strategies. The biggest hurdle for Xceedance is to ensure profitability without compromising on our growth rate. With that goal in mind, the company’s leadership had the clarity and strength of purpose to rebuff suitors from private equity wishing to invest in Xceedance. Rather, we have grown on the expertise of our people and a track record of client satisfaction to build profitably and organically.5. What is your biggest USP that diﬀerentiates the company from competitors?
We are different because we focus on a single industry – insurance. We know this industry our clients, and we look at the challenges and opportunities in this space through three distinct lenses – people, process, and technology. We want to enable technology, enhance processes, and allow people to do more and be more efficient and effective in their roles. This approach, combined with our industry specialty, truly sets us apart from our competitors.6. What are your growth plans for the next 12 months?
Our growth plan for the next 4-5 years is to grow to 3 times our current size in terms of revenue. To date, we have experienced a healthy growth rate of 40% year-over-year, and are focused on growing that rate in the coming years. Xceedance has a significant presence in major insurance markets across the globe, from North America and Europe to Australia, and we are looking to expand our footprint in each of those markets.7. What does your technology and business roadmap look like for the rest of the year?
We are building an organization that will outlive all of us – one that will be operating 100-200 years from now. When you start thinking in those terms it doesn’t matter quite as much what you are doing over the next 1-2 years or even the next 5 years. The insurance industry that we are part of was here 300 years ago, and it will be here 300 years from now. While the market has always evolved and grown, the foundation of insurance remains. Our role at Xceedance is to provide value and insights to insurance organizations no matter their specific role within the industry. As such, we’ll need to continue to flex and adapt as the industry changes in the years to come.”8. What is your Leadership Mantra?
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Technology, for sure has changed the way businesses are run. It has become an omnipresent and inevitable part of business operations, that span a wide range of devices and networks. It has, in a way made it cumbersome to efficiently manage the distributed tasks, requiring external help to sail through the day-to-day logistics all while being able to make strategic decisions. XenonStack is a technology service provider whose services range from designing cloud-native applications to providing big data analytics. It’s AI and data-centric solutions have won many laurels, including awards like Best Product of the Year 2023 by Software Technology Parks of India (STPI). Analytics Insight has engaged in an exclusive interview with Navdeep Gill, Founder & CEO, of XenonStack.What does XenonStack do and how are digital experience platforms like Xenonstack using data-driven decision analytics?
We are a Cloud Native and Data Intelligence Company and provide technology consulting and services that digitize and futurize businesses by leveraging cloud-native and AI to deliver data-centric experiences. Our services include Technology Consulting and Digital Platform Strategy, Assessment and Remediations, Development and Implementation, and Digital Operations (Managed Services, SRE, Observability).
We are an industry-agnostic company and the services we offer can help most sectors scale up and transform digitally. Currently, we have a strong presence in USA and UAE. Our team comprises 120+ employees with an analytic approach while focusing on enterprise agility and security. With Xenonstack, organizations get end-to-end solutions that are driven by data and outcomes. We help develop holistic priorities, underpinned by scorecards and metrics, that cover organizational health, talent, and culture, as well as data quality. Data and analytics are central for any business to reach a set of goals in a world driven by technology. We use Data Analytics as a Catalyst for Innovations, Services, and Product Development.
Making the most out of consumer patterns with Personalized customer experiences and Augmented analytics, we help businesses become more digitally strong, robust, and agile.Give us an insight into how XenonStack is using modern technology in providing its never seen services.
We are a tech-savvy brand that helps companies gain a strong foothold in the digital world. We use Cloud-Native, Cloud Platform Engineering, Data Engineering, IoT, Real-Time Analytics, Computer Vision, and EDGE AI to offer solutions to our clients. We serve Cloud Security and Observability to help make businesses more secure and insulated. We use SRE and Managed Services to help our clients with Metaverse, 5G, Metadata, Composable Data, and Analytics.How is XenonStack enabling CIOs to work towards a tech-services ecosystem for agility and resiliency?
We help CIOs by reinventing technology delivery and aim to Future-proofing the foundation to build a digital, tech-savvy vertical that is immune to or adapts easily to the ever-changing technology.
We create an integrated plan for risk management to insulate the business in case of unforeseen digital threats, leveraging technology to not only augment the business but also create value for the business. The aim is to accelerate digital transformation but to do so in a way that strengthens the bones of the business. We enhance business composability by rendering them with the right mindset, technologies, and set of operating capabilities to innovate and adapt quickly to changing business needs.What are the five challenges in the sector for implementing a digital strategy?
Digital transformation is in its nascent stage. Sprouting majorly after the pandemic, digital transformation is still at the stage of trial and error. Some hurdles need to be overcome before we can transcend into a wholesome digital era. Five of these key challenges are:
ii. Following a security-first approach – With enhanced AI-powered solutions, cybersecurity has become a concern. For most visionaries, having their operations online and depending on AI also increases their apprehension of cybersecurity and the complexity that digital transformation brings with it.
iii. Evolving Customer Needs – The democratization of information and the multiple channels for dissemination of information has made the consumer smart, aware, and demanding. With laptops and smartphones becoming like extended limbs, customer is looking for the best experience they can avail themselves of. As tech solutions grow so does consumer behavior, making it imperative for companies to stay agile, alert, and responsive. This requires reassessing digital strategy periodically to identify gaps and implement solutions.
iv. Lack of IT Resources and Management – Digital transformation requires a skilled and dedicated team. However, with the technologies changing and evolving ever so often, it is getting harder to hire trained personnel. Advanced data analytics, cyber security, and a sound digital strategy required trained personnel to tackle small and big problems at every step.
v. The challenge of agility – Digital transformation tends to be disruptive on account of changing processes in a company. Bifurcating a big process into two and navigating them in short-duration increments help in increased agility and flexibility, aiding transformation. Digital Transformation changes the way businesses operate and interact with their consumers. Integration of AI, technology, and machine learning tools is a complex but necessary process and a cookie-cutter approach is not the way. Without a response-based system in place, companies tend to fail during the initial transformation phase. Agile transformation, therefore, is a key factor that determines the success of digital transformations.Why is account-based marketing important for SaaS-based startups?
Account-based marketing makes sure that the brand language and your connection with the consumer are personalized and targeted. It helps you define your business coherently for your customer and sets you apart from your competition. Besides this, driving a broad brand name could be expensive. Account-based marketing enhances targeted ABM and high-quality nurture. It helps in shortening the sales cycle and synergizes the sales and marketing efforts.
Education technology has the opportunity to improve learning outcomes for hundreds of millions of children and adults worldwide. Edufiq is a Delhi-based ed-tech startup that specializes in imparting Artificial Intelligence learning through game-based & experiential teaching techniques for students of classes 5th-10th. Analytics Insight has engaged in an exclusive interview with Swati Ganguly, Co-founder ofKindly brief us about the company, its specialization, and the services that your company offers. With what mission and objectives, the company was set up? In short, tell us about your journey since the inception of the company?
Our company’s core aim is to make students future-ready and bridge the digital-learning gap. Since its inception in (2024-20), Edufiq has redefined the learning program by inculcating new age and immersive technology in the understanding of Artificial Intelligence. The course offered by our program imbibe critical thinking amongst students & challenges their cognitive skills. Schools are looking forward to teaching AI as a subject, but there is a scarcity of skilled educators, equipped with new-age technology tools. Edufiq’s CESP (Comprehensive Experiential School Program) is a complete managed program, enabling schools to envisage the new teaching methodology, or Education 3.0Brief us about the proactive Founder/CEO of the company and his/her contributions towards the company and the industry.
Swati Ganguly, the prolific co-founder of Edufiq, adheres to 25 plus years of rich scholarly and administrative experience. She is the educational catalyst who derived the modern learning techniques by giving the Indian education a technology angle. She has lived a spectacular journey as an educationist, from being a school teacher, Principal, special educator and now one of the most prominent co-founders of Edufiq. Her patience & ambitious attitude distinguish her as one of the leading women in education technology in the country. Recognised as the “Women Education Entrepreneur of the Year 2023” by AICRA, she believes that teachers must adhere to modern teaching styles.Kindly mention some of the major challenges the company has faced till now.
Edufiq has a unique pedagogy, the Game-Based & experiential learning techniques are very new to India. So finding relevant human resources for creation and delivery has been a challenge. Edufiq has had to build a team of trainers and curriculum creators from the scratch. All our educators & trainers are full-time employees, unlike other tech companies. We have collaborated with domain specialists globally to create courses that are mapped to global standards of ISTE & CSTA. Finding the right talent has been a challenge and we are on a continuous search for educators who understand the technology and want to make a difference in the Education space of India.What is your biggest USP that diﬀerentiates the company from competitors?
One of our biggest USPs is pedagogy. Experiential Learning techniques make learning Artificial Intelligence for our students a unique experience. We create an engaging learning ambiance for students which generates the willingness & curiosity amongst students to learn and adopt new things, chapters, sessions, co-curricular & technology. Our children already have screen time, we strive to make the same screen time productive and rewarding. When we use games and a project-based approach to teach concepts, kids are more engaged and have a higher retention value. Edufiq’s CESP (Comprehensive Experiential School Program) for Schools, is a complete managed program, enabling schools to envisage the new teaching methodology.How do you see the company and the industry in the future ahead?
Since the education industry has faced massive disruption during the pandemic, our goal is to assist the “Digital India Initiative” initiated by the Prime Minister. Edufiq has successfully partnered with select few schools and is planning to expand its count by the next academic year. The future ed-tech industry is about personalized learning. Each child is unique with unique capabilities, hence education should be personalized to curb learning issues like- student engagement & understanding. Since the future of education will be driven by a large part of technology, Edufiq ensures that the new teaching tools are well understood so that we enhance the tech skills of both students as well as the teachers. Thus, contributing to a brighter future ahead.Which industry verticals are you currently focusing on? And what is your go-to-market strategy for the same?
Edufiq’s parent organisation, Juana Technology, has been working closely with schools for over 8 years now. We strongly believe that education can be transformed the best when we collaborate with schools to bring a holistic learning approach. Edufiq’s CESP (Comprehensive Experiential School Program) is a complete managed program, enabling schools to envisage the new teaching methodology. We are adopting the traditional IT labs and trforming them into AI Labs, enabling new-age learning. From creating an intelligent learning environment to developing the professional development of educators and finally delivering the experiential curriculum of Artificial Intelligence, the CESP is a complete solution for schools to adopt the Education Trformation. Edufiq does not have a mass approach, we are working with a few handpicked schools, who share the vision and passion for information. The CESP is a very niche program and we look at bringing trformation bit by bit.What is your Leadership Mantra?
The consumer packaged goods (CPG) and retail industry faces major challenges globally with an uncertain economy, digital competition, and a new generation of customers who are highly demanding and informed. Today’s disruptive innovations have opened up avenues for CPG and retail companies to improve market share and margins. Analytics Insights spoke to Anthony Kilili, Head of dunnhumby India to understand how insights related to sales, inventory and customers are extremely crucial and how the company offers solutions which help retailers and CPG companies drive significant decision-making. Analytics Insight: Kindly brief us about the company, its specialization and the services that your company offers? The existence of a Media Business alongside our Retail Analytics tools & consulting makes our offering and competitive positioning rather special: we have a unique product and service portfolio for retailers and CPGs. In order to fully harness the benefits of customer analytics, a clear and comprehensive customer focused strategy is required supported by appropriate team structure. The first step in this process is to ensure data management and utilisation is optimised in secure fashion. dunnhumby can support both the development of customer data management and optimisation all the way through to execution of customer and media strategy. We can both enhance and execute a retailer’s customer-focused strategy, whilst developing collaborative relationships with CPGs. dunnhumby can effectively, and quantitatively elevate & demonstrate marketing effectiveness, whether it be a new product launch, or a branded media campaign online or instore. Analytics Insight: What is your biggest USP that diﬀerentiates the company from competitors? Anthony: dunnhumby has more than 30 years’ experience in customer data science, with presence in 27 countries, analysing insights from more than 800 million shoppers globally and delivering almost 5 billion personalised shopping offers. It uses customer data science to deliver exceptional customer experiences in-store, offline, and online. dunnhumby has arguably the best science in the world. When we apply our IP to transactional data, we can build a powerful picture of what people are actually purchasing and work with retailers and suppliers to make good business decisions that put the customer first. Grocery is our primary specialisation. Our first priority when working with a retailer is to look at what products they sell, and what store they should sell them in. Our next step is to organise the approach to promotions We look at • Who are your customers • Why they come to store • What they buy and when We create revenue for retailers by offering services to manufacturers as data is valuable insight. Analytics Insight: Please brief us about the products and services you provide to your customers and how do they get value out of it. Anthony: dunnhumby partners with both retailers as well as manufacturers. The retailer engagement model works either as a long-term joint venture or as a small to medium term contract. We work with retailers like Tesco, COOP, Homeplus etc. Our engagement with manufacturers works either as small to medium term contract for SHOP and/or through custom insight solutions that dunnhumby offers to its manufacturer partners across a broad spectrum. We also work closely with CPGs like Pepsi, Coke, P&G, Unilever, Cadbury, Nestle etc. dunnhumby always puts the customer first. We work with retailers and CPGs to build long-term loyalty and drive incremental sales by delivering the most relevant and personalised experience for Customers. We build foundations of: • Customer Insights • Audiences • Channels • Propositions We use our science to help you see, engage and serve your customers in a more effective way that brings commercial benefit to your business. Our Customer Centricity Study shows that customer – led businesses outperform their competition with the top 25% achieve +3% growth in L4L sales and 7% growth in market share This underpinning of prescriptive analytics and machine-learning forecasting means we have learned how to uncover and unlock opportunities to find wasted investments in Customers, to conserve and optimize only those investments that work to grow loyalty and sales, and to commercialise your data assets. And the areas where we can help?
Analytics Insight: What’s your growth plans for the next 12 months? Anthony: In the last 12 months we grew our client base by 25% which we will continue to nurture. We have significant growth plans as we explore new industries and geographies as well as deepen our work with Retail where there is still incremental opportunity. For example, we have recently launched in Australia and New Zealand where we hope to build into one of our top 5 markets globally in the next 3-5 years. We have also launched a new media business where our operating model (OM) combines media, science and partnership capabilities to build connected media plans. These bring together offline and online customer experiences, resulting in seamless, personalised campaigns with measurable and actionable results that businesses will be able to benefit from. Analytics Insight: What is the size of analytics team at dunnhumby? Anthony: 25% of our workforce are data scientists and analysts. Analytics Insight: How does your company’s strategy facilitate the transformation of an enterprise? Anthony: Strategically we have evolved our offering to be able to work with retailers in many ways to ensure that we can be flexible in our offer. Some just need software if they have their own talent pool and established team and some need a whole dedicated dh team to work for the retailer specifically. This means we are flexible in how we work and who we can work with. We bring our long-standing knowledge from 30 years of experience and our world leading science to businesses but applying the theory of putting the customer at the heart of every decision, which ultimately transforms results for the business. Many companies have a huge amount of data these days. But knowing what to do with it, having the science to apply to it along with the knowledge to create insights and capability to action is rare. That is the value dunnhumby can bring. Few case studies • Kroger achieved 53 quarters of L4L growth even throughout the recession when all other grocery retailers declined. • Our Customer Centricity Study shows that customer – led businesses outperform their competition with the top 25% achieve +3% growth in L4L sales and 7% growth in market share. • Shoprite achieved margin and revenue growth of +1.5% by partnering with dunnhumby including +19% profit from analysis of core product assortment and 2-8% category sales uplifts. • Coop Norge achieved +24% sales and shelf improvements in 13 weeks and +8% more baskets – +61% customers buying front page items and+1% L4L growth with new promo flyers. Analytics Insight: What is the reason that organisations are using analytics/big data/AI/ML/Big Data Analytics? Anthony: Big data analytics have taken a predominant spot in the corporate world as numerous case studies arise on how businesses have been positively transformed through data-driven decisioning. Big data analytics enable companies to make more informed decisions, a crucial point in competitive differentiation. Application of analytics provides gains in terms of cost reduction (e.g. by using predictive models to optimize marketing budgets), faster time to action (e.g. by using real-time data streaming analytics for online product recommendations) and innovation (e.g. by understanding customer needs and personalizing offerings to meet those needs). To remain relevant, organizations across all economic sectors will need to mine through the vast amounts of available data to find actionable insights needed in an era where customer demands are rapidly changing and the competition is continuously innovating. Analytics Insight: How are disruptive technologies like Big Data analytics/AI/Machine Learning/Cloud Computing impacting today’s innovation? Analytics Insight: What have been the most significant challenges that you have faced at the forefront of analytics? Anthony: One of the big challenges is a shortage of talent. The demand for data science professionals continues to increase as more organizations switch to big data strategies. Successful data scientists are proficient in Advanced Analytics methods such as Machine Learning, they are savvy programmers and can quickly understand the business context. This combination of skills is not easily found at scale. This can be mitigated by working with specialized third-party data science partners. Analytics Insight: What are business benefits of handling data analytics & implementing a real time decisioning platform? Analytics Insight: Can you throw light on the latest employment trends in big data and analytics industry?
Can you differentiate between a definite buyer, a potential buyer, and a window shopper just by looking at their CCTV footage? Well, it may now be possible with video analytics, which can recognize spatial and temporal data of an object and analyze its actions or particular activities based on its movements. Deep North caters to this segment of the analytics industry by facilitating companies to implement real-time insights through video analytics. Analytics Insight has engaged in an exclusive interview with Azhaan Merchant, SVP of Strategy & Business Development, Deep North.1. With what mission and objectives, the company was set up? In short, tell us about your journey since the inception of the company?
We exist because we believe data and deep learning can have a humanizing effect on real-world experiences. Our mission is to empower enterprises that operate in the physical world with accurate, real-time, decision-making insights so that they can create richer real-life experiences and better business outcomes.
After rebranding in 2023, Deep North expanded the availability of its computer vision and video analytics products, to a variety of markets including retailers, grocers, airports, shopping malls, restaurants, and events.2. Tell us how your company is contributing to the AI/Big Data Analytics /Cloud Computing industry of the nation and how the company is benefiting the clients.
We are pushing the frontiers in intelligent video analytics and have partnered with tech giants such as Nvidia and Dell to ingest massive amounts of video data and run our proprietary computer vision algorithms using both on-premise and cloud-based infrastructure. Our systems architecture has OCI-compliant containers running on VMWare with GPU virtualization on top of Dell edge servers. In addition, we have recently migrated to NVIDIA’s Ampere microarchitecture which will allow us to increase the volume of cameras we can use for each GPU card available.3. What is your biggest USP that diﬀerentiates the company from competitors?
A majority of the existing video analytics vendors use facial recognition to track a consumer’s behaviour across physical environments – however, with privacy laws like GDPR and CCPA it is not possible to utilise such software without the consent of the consumer as it is stores personally identifiable information (PII). As a result, a majority of vendors deployed in the West focus on analysing and identifying objects from a single point of views such as the entrance doorway or check-out counter.4. How is your company helping customers deliver relevant business outcomes through the adoption of the company’s technology innovations?
Currently, most operators only have access to point-of-sale data within their brick & mortar stores and there is an entire black hole of information on what a customer does from the time they enter the store to the time they exit. Deep North helps operators unlock several new tranches of data relating to what the customer is doing at every point- What demographics are predominantly coming into the store? Where exactly did they spend time? Which products did they touch? Was there a sales associate present to help them? Was there a long line at the check-out? Getting access to this information allows operators to understand the customer funnel more clearly so they pro-actively improve the in-store experience for each of their stores.
After this data is unlocked, Deep North’s algorithm optimizes perpetually over time and its predictive analytics engine pro-actively guides enterprises on how they should run their stores. Invaluable suggestions are provided such as – What is the ideal store layout? How many labor hours are required in the front and back-off house? Where should you place your sales associates? What is the ideal product mix relating to the customer demographics entering that store?5. How do you see the company and the industry in the future ahead? 6. Which industry verticals are you currently focusing on? And what is your go-to-market strategy for the same?
A majority of our revenue today comes from big box retail, supermarkets, and shopping centres. We are also deployed with some airports, QSRs, and warehouses. Our go-to-market strategy is to find an anchor Global 2,000 customer in each of sector who has a voracious appetite to ingest new pockets of data as an accelerant to change the way they run their stores. We work with these anchor clients to understand what business outcomes our video analytics solution can help them solve and once we understand their goals, we can re-purpose our core computer vision algorithms to help them unlock data from their existing video assets in their brick & mortar stores. After identifying the immediate pathways towards ROI, we also create a road map of unique algorithms and features that we can develop to further enhance their in-store experience. After successfully validating our thesis across multiple stores and formats, we then roll out a blueprint across their entire format. We can then build a case study and white paper that will help us approach similar clients in different geographies who are mostly facing the same problems.
Frank Sinatra once said, “you buy a Ferrari when you want to be somebody. You buy a Lamborghini when you are somebody.” Known for their stunning looks, incredible speeds, and powerful combustion engines, the one-of-a-kind luxury cars from Lamborghini are currently going through a big change. The Italian manufacturer previously announced that it will now focus on the development of hybrid and pure electric cars. Therefore, 2023 is going to be the last year for its V-12 combustion engine cars.
To mark the occasion? Lamborghini will auction its last gas-powered Aventador LP 780-4 Ultimae Coupè along with an exclusive NFT.
The company has partnered with DJ Steve Aoki, artist and innovator Krista Kim, and digital content studio INVNT Group for this “Ultimate” drop. There will be only one owner of the 1:1 NFT Lamborghini collectible, and the company also claims that “the drop is the world’s first NFT ever to be auctioned with a physical super sports car.”Why is Lamborghini getting into NFTs?
While making the 1:1 NFT announcement, CEO of Automobil Lamborghini, Stephan Winkelmann, noted the synergy that exists between the car company and NFT community. “Lamborghini and the NFT community fit together very well, as we share many values. We are both young-spirited innovators, looking out for unexpected projects and technological solutions,” he said. In an email exchange with nft now, Winkelmann clarified his sentiments. “Lamborghini is more than just a super sports car manufacturer, it is an attitude, a lifestyle….the NFT community shares many of our values, consisting of innovative, young-spirited people seeking unexpected yet authentic ways to interact,” he said.
Winkelmann added that the project is particularly notable because Lamborghini is one of the first car companies to enter the space in this way. “This project is very special for us as it is a true first, a path nobody has ever taken,” he said.What’s so special about Lamborghini’s “Ultimate” NFT drop?
The auction of Lamborghini’s last V-12 engine-equipped Aventador LP 780-4 Ultimae and the attached NFT will take place at RM Sotheby’s on April 19th at 6:00 PM CET. The lucky collector will get to attend a virtual meet-and-greet with Krista Kim and Steve Aoki. They will enjoy access to Lamborghini’s VIP utilities and receive a private tour of Museo Lamborghini. The NFT holder would also be eligible for a preview of future limited edition Lamborghini cars and other VIP benefits.
Although the 1:1 Lamborghini “Ultimate” NFT is going to be a unique drop, it’s not the first NFT project from the Italian car manufacturer. The company debuted in the NFT space in January with its “Space Time Memory” collection, a pack of five eye-catching Lamborghini Ultimae photos created by Swiss artist Fabian Oefner. This time artist Krista Kim is designing the NFT artwork. Her special signature gradient will appear on both the NFT and the real Aventador.
Meanwhile, Steve Aoki is creating the music for the NFT and he is also working on an exclusive track for the car. Excited about this partnership, Aoki said, “I’m honored to be partnering with Lamborghini and Krista Kim on this historic project! The drop signifies the ultimate intersection – where the physical world, digital art, and music come together as one. Every design element of this car is purposeful. It truly has its own story, and therefore I wanted my music track to reflect its soulful energy – the vibe, the spirit, and the power.”
The auction of its last combustion engine-based Aventador car will be a historical moment for Lamborghini. It will also be a proud moment for the NFT community. “This event will likely be one of the most prolific NFT drops this year and will certainly be one of the most historic automobile auctions ever,” said Scott Cullather, CEO of INVENT Group.
This article has been updated to include additional statements from Stephan Winkelmann.
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