Colnago has announced a partnership with MyLime, a premium blockchain specialist, to provide official product validation on its future bikes.
There’s no denying that Colnago bikes are highly coveted and prized, many of which are considered some of the best road bikes and have garnered collectable status as a result. The Italian brand may be steeped in rich heritage and tradition but it recognises the importance of embracing digitisation so its customers and collectors can trade with confidence later down the line.
For Colnago collectors, the partnership with MyLime will make it much easier to establish the provenance of a frame and validate its authenticity.
Colnago will launch the new blockchain technology with Tadej Pogačar’s 2021 UCI World Championship bike, and its vision is to extend the blockchain frame authentication and passport technology to all new Colnago production bikes throughout 2022 and going forward.
Know what you are buying
Manolo Bertocchi, Colnago Head of Marketing, added: “We have been looking at the security provided by blockchain technology to give our customers the confidence to know that the frame they are buying is authentic and to demonstrate the chain of ownership forever. We will also announce other functions based on blockchain with the new year.”
When transacting on a Colnago frame, buyers and sellers will now have an independent ledger of fully validated details. First owners will also receive an NFT (non-fungible token) version of their bike.
Secure blockchain technology ensures dates and details relating to any Colnago frame, tagged by MyLime’s radio-frequency identification tag. Without the potential for embellished histories and inaccurate dates, blockchain secure tagging will give each new Colnago an identity of its own, which should increase the actual value of these Italian bikes over time.
Colnago’s decision to move with a blockchain theme will allow its bikes to retain a more genuine value over time, enhancing the ownership experience for a legacy of future customers.
“Whether it was disc brakes, the use of carbon-fibre, or aerodynamic designs, Colnago has always been a company that brings innovations to market before other cycling brands,” said Nicola Rosin, Colnago CEO.