Ferrari enters the NFT universe, cooperates with the Swiss blockchain company Velas

Sports car giant Ferrari is entering the NFT market and joining forces with blockchain tech company Velas to create non-fungible tokens for scuderia fans.

Scuderia Ferrari has confirmed a multi-year agreement with Velas, a Swiss technology company. The aim of the cooperation: Develop NFTs (non-fungible tokens) for Ferrari fans. This is the team’s first foray into the digital asset industry.

According to a statement, the multi-year agreement between Scuderia Ferrari and Velas Network AG will exclusively create “digital content” for Scuderia fans.

Ferrari enters the NFT sector

According to the official press release, the famous sports car giant will create digital collectibles for fans in collaboration with Velas Network AG. These should now be available from March 2022.

As part of the agreement, Velas Network AG will also become title sponsor of the Ferrari Esports Series, the online mono-brand series of the dancing horse, and the Esports team that will compete in the F1 Esports Series.

Mattia Binotto, General Director of Scuderia Ferrari, says he is “delighted” with the partnership. He comments: Velas is a company “that makes innovation and performance the hallmark of technologically advanced products and services.”

Faryad Shagulyamov, CEO and co-founder of Velas Network AG, is also enthusiastic. His company has built a “next-generation blockchain that focuses on both sustainability and performance.” He speaks of Ferrari as “an icon of excellence”.

Sports and Crypto Connection

Many leading sports companies are now in the process of pushing into the cryptocurrency sector. Recently, for example, Crypto.com became the global partner for Formula 1’s new sprint series for 2021. Similarly, McLaren Racing has announced the launch of its NFT platform, which is built on the Tezos blockchain (XTZ).

In addition, many believe that such sports crypto collaborations are great in terms of marketing and can easily attract more users to platforms that support such products.

Some also see such collaborations as a good wayto spread the use of cryptocurrencies such as Tezos and allow investors/users a simplified understanding of blockchain technology.