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Ferrari Partners with Swiss Blockchain Developer to Make NFT Debut

Ferrari announced a new partnership with Vellas, the Swiss-based technology firm to establish NFTs for its community.

Ferrari announced a new partnership with Vellas, the Swiss-based technology firm to establish NFTs for its community.

The blooming of NFTs has had an impact in various industries since its foundation. This evolution of NFTs has also made an influence on the luxury car giant Ferrari, which has already taken the first step towards dipping its toes in the NFT waters. It was announced that Scuderia Ferrari has signed a long-term contract with the giant Swiss tech company Velas Network AG to create NFTs for its fans. Nevertheless, Ferrari is not the first in this industry to launch this step.

Ferrari Joins the Crypto World

The appealing collaboration between Ferrari and Velas Network AG has been officially announced on Twitter, disclosing that starting March 2022, fans will be able to add the NFTs to their collections.

Velas will now assume the Title Sponsor of the Ferrari Esports Series, the online mono-brand series of “The Prancing Horse,” as well as the Esports team that will participate in the Formula One championship, as part of the agreement.

General Manager and Team Principal of the Scuderia Ferrari, Mattia Binotto referred to the Switzerland-based technology company as making “innovation and performance the hallmark of technologically advanced products and services.”

Similarly CEO of Velas Network AG, Farhad Shagulyamov said that the company has developed a “next-generation blockchain that puts the emphasis both on sustainability and performance.” He concluded that the partnership with Ferrari was the natural and obvious choice. 

Moreover, as known to its fans, ‘The Prancing Horse’, has broken the record of winning 16 Formula 1 constructor’s championships, and 15 driver’s championships, thus making one of the greatest series of the Scuderia Ferrari.

The Relation Between Formula 1 And Crypto

The blockchain world has welcomed the arch of motorsport Formula 1’s new Sprint series. The partnership with CryptoCom was finalized in June of 2021. According to the agreement, the exchange platform’s emblem will be displayed at every race for the rest of the season. In addition to this, CryptoCom also became the sportscar championship’s Official Cryptocurrency Sponsor and NFT Partner.

During the month of October,  McLaren Racing released the establishment of its NFTs platform built on the Tezos blockchain which enables fans to have the convenience to purchase digital keepsakes for their collections. In commemoration of this launch, the team chose to give the first 5,000 fans who signed up for the program the first digital part of the MCL35M race car. 

Also read: 

Bitcoin ATMs Nearly Tripled in 2021

Adidas Endorses BAYC by Setting its NFT as Twitter Display

Post Malone’s New Music Video with The Weeknd Showcases BAYC NFTs

Ripple CTO, David Schwartz, is bullish on the future of NFTs

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