Ferrari has announced that blockchain technology firm Velas will create NFTs for Formula 1 fans beginning next season.
Ferrari, the Italian luxury sports car manufacturer, recently announced a partnership with Swiss technology firm Velas to produce non-fungible tokens (NFTs) for fans. According to the terms of the agreement, Velas will join Ferrari’s Formula One racing squad beginning next season. According to Ferarri’s official statement:
“…Velas will be the Title Sponsor of the Ferrari Esports Series, the Prancing Horse’s online mono-brand series, as well as the Esports team that will compete in the F1 Esports Series, the official digital championship competed in by all FIA Formula 1 World Championship teams.”
Following the Velas collaboration, Ferrari teases more NFT-centric projects to come.
This is Ferrari’s first relationship of its kind. Through the new alliance, the well-known automobile maker hopes to capitalize on the expanding NFT industry. Furthermore, Ferrari implies that several more comparable initiatives would emerge in the future. Furthermore, the Italian automaker is depending on its global clout and large fan base to propel it to new heights in this market.
Mattia Binotto, general manager and team principal of Ferrari’s professional Formula 1 racing team, Scuderia Ferrari, expressed his excitement.
“We are delighted to begin this relationship with Velas Network AG, a company that makes innovation and performance the hallmarks of technologically advanced goods and services: these are all values that connect us and drove us to select Velas as a Premium Partner,” he stated.
Farhad Shagulyamov, CEO and co-founder of Velas, also commented on the collaborative venture with Ferrari. The CEO was overjoyed at the prospect of offering digital materials to Ferrari enthusiasts. Shagulyamov stated that Velas was up to the task:
“After developing a next-generation blockchain that prioritizes both sustainability and performance, it was only natural to collaborate with another icon of perfection, Ferrari.” Velas has pioneered a wide range of cutting-edge technologies into blockchain and related products, which will now be presented at the pinnacle of motorsport.”
Alex Alexandrov, the company’s chairman and founder, expressed similar enthusiasm about collaborating with Ferrari.
Velas is a prominent provider of digital products and services, including one of the quickest and most energy-efficient blockchains on the market. The firm is a melting pot of creativity and innovation, with a broad workforce of engineers, cryptographers, researchers, mathematicians, and results-driven business leaders. The tech firm, which was created in 2019, has played an important role in the blockchain market. Velas is reshaping the industry with centralized and decentralized solutions.