On Monday, September 9th, BlockStar, a company authenticating real-world goods using blockchain technology, and DeMarchi, the iconic cycling apparel brand established in 1946, sold the world’s first blockchain certified replica of Fausto Coppi’s 1953 De Marchi Jersey for $10,500.
Quantstamp facilitated the success of this sale by enhancing the security of the blockchain components and the website used to conduct the auction. Quantstamp continues to modernize large companies by securing over a billion dollars of digital asset value through their services and helping companies deploy cutting-edge blockchain solutions.
DeMarchi and Blockstar used blockchain technology to create a “digital twin” of the replica jersey. The blockchain is used for two purposes:
- To create a more efficient method to prove the authenticity of the physical jersey compared to existing methods, and
- To enable the buyer of the jersey to utilize the digital version in an array of digital environments and earn continuous passive royalties through De Marchi jersey licensing agreements.
The jersey auctioned is the only replica of a jersey worn by Fausto Coppi, better known as Il Campionissimo (Champion of Champions), was the most accomplished cyclist of his time. His accolades include being a two-time winner of the Tour de France (1949, 1952) and a five-time winner of the Giro d’Italia (1940, 1947, 1949, 1952, 1953). The original jersey was created by Elda De Marchi to honor Coppi’s Road World Championship win in 1953 before it vanished for 60 years until being rediscovered in 2015. While the original jersey is now housed in Italy’s Museo Ghisallo, the now 88-year-old Elda De Marchi has sewn a replica of the one-of-a-kind jersey using the same materials, colors, dimensions, and relic look, giving one individual the chance to own a piece of cycling history.
De Marchi CEO Mauro Coccia says, “De Marchi is proud to honor Fausto Coppi’s accomplishments with this innovative sale, as it combined history and modern technology by leveraging Blockstar’s blockchain platform to certify our jersey’s authenticity as the only authorized replica. This represents a new step for De Marchi, taking our innovation from the cycling track to the digital frontier. We were thrilled to see so much interest in Coppi’s jersey as it is a testament to Coppi’s legacy as one of the world’s most influential cyclers, even today, almost 60 years after his death.”
The highest bidder, who has chosen to remain anonymous, 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. BlockStar’s blockchain platform was used to ensure provenance and authenticity of this one-of-a-kind piece for the buyer - authenticating both the physical jersey, as well as creating the first branded digital apparel twin. This digital twin will also enable the winner to utilize the digital version in an array of digital environments and earn continuous passive royalties through De Marchi jersey licensing agreements. This auction and sale marks the first-ever use of an apparel maker using a Digital Authentic Good created on the IBM Hyperledger Blockchain.
Blockstar CEO Christian Ferri says, “Today’s successful auction and sale of this jersey marks the first of many similar successful blockchain-authenticated sales. We’re delighted to see that there exists such a large group of people who understand the need for the provenance of rare goods and believe that Digital Authentic Goods™ (DAGs) are the future of commerce.”
Other digitally authenticated sports goods will be available for purchase in the near future through the auction platform. To learn more and stay up-to-date on future auctions, visit De Marchi’s website: www.demarchi.com.