Today the Phillips auction house will showcase a one-of-a-kind NFT that will certainly appeal to both art and automobile collectors.

As a part of its 20th Century & Contemporary Art Evening Sale in London, Phillips will auction a 1-of-1 Bugatti NFT, with a starting bid of more than 350k. The NFT is paired with a physical, handmade sculpture designed in rose gold by the iconic Asprey brand.

“This is the first masterpiece derived from the Asprey Bugatti partnership, following the hugely successful sell out of the smaller 261 collection, inspired by pop art and the current digital art movement. The NFT enables the artwork to link to two physical sculptures in the blockchain, preserving provenance and authenticity. The NFT is a secondary feature that simply enables the sculpture and artworks to co-exist together in a unique narrative, a moment in history for the art of Asprey and Bugatti.”

Ali Walker, Asprey Studio’s Chief Creative Officer

Raising fascinating questions around ownership and the object, NFTs and blockchain technology have become increasingly prominent aspects of our contemporary landscape.

You can read more about the the auction, which will take place around 2 p.m. ET today by clicking here.

The auction has drawn so much attention that an online sportsbook BetOnline.ag has even created odds for the highest bid, setting the “over/under” at 500k.

Asprey and Bugatti began its digital and physical collaboration more than three months ago when it announced an NFT collection in partnership with Exclusible. That collection consisted of 261 unique tokens with different color combinations.

Like today’s auction, each of the 261 NFTs from the “La Voiture Noire” collection were paired with handmade sculptures redeemable by the holder at a future date. The sterling silver sculptures were handcrafted at Asprey’s London workshop by master silversmiths so no two pieces will be identical.

“This exclusive partnership with Asprey will enable Bugatti customers and enthusiasts to enjoy our design values from a new perspective through this stunning Masterpiece. Featuring a Bugatti masterpiece at a prestigious contemporary art auction using NFT technology to fuse the art and the sculptures, embodies the spirt of innovation at Bugatti”

Wiebke Stahl, Managing Director of Bugatti International

Today’s physical item will be linked to the corresponding NFT via a QR code, serial number and color combination (unique base), and it will also include the Asprey and Bugatti logos. The physicals are expected to be redeemable in three months.

The current floor price on OpenSea is 12 ETH (At time of article, 1 ETHERIUM = $1,312.62 cad / $1,019.75 usd). The sales volume is 693 ETH, with an average sale of 10 ETH.

Asprey Bugatti NFT owners will be whitelisted for the Asprey Studio Club (ASC) Genesis membership in July. Genesis members will receive a physical gold signet ring with a founder edition engraving, along with special benefits such digital airdrops, whitelist for future drops, exclusive event/gallery invitations and more.

ASC members will also be able to display and offer for purchase their Asprey Bugatti NFT/sculpture on the first floor of the Asprey Studio showroom in the affluent Mayfair district of London.