Ferrari partners with Velas to release NFTs and enter the Digital Space

The Italy-based sports car manufacturer, Ferrari, has entered the NFT space through a deal with Velas. Velas is an ecosystem of decentralized products that allow individuals to feel the benefits of blockchain technology.

At the beginning of the next Formula 1 season, Velas is reported to be one of the partners of Ferrari. The two companies sealed a multi-year contract to create exclusive digital content for Ferrari fans. 

Additionally, Velas will be a title sponsor for Ferrari’s Esports Series, where the team is set to compete in the F1 Esports Series. The digital championship is participated by all teams in the F1 World Championship. 

“We are pleased to start this collaboration with Velas Network AG, a company that makes innovation and performance the hallmark of technologically advanced products and services: these are all values that unite us and that led us to choose Velas as one of our Premium Partner,” Scuderia Ferrari general manager and team principal, Mattia Binotto, said in a press release with regards to the company’s deal with Velas for digital content.

Velas’ co-founder and chief executive officer, Farhad Shagulyamov, also expressed the company’s pleasure for a chance to collaborate with an iconic brand. “Having built a next-generation blockchain that puts the emphasis both on sustainability and performance, it was natural to partner with another icon of excellence, which is Ferrari,” he said.

Source: Econo Times