Scuderia Ferrari has signed a multi-year partnership with Swiss tech company – Velas Network AG – to create non-fungible tokens (NFTs) for its fans. This is the racing team’s first interaction with the digital asset industry, while some Formula 1 rivals have already marked the early stages.
Ferrari dives into the crypto world
In its official statement, the famous sports car maker revealed that it is “happy” to have Velas Network AG as a partner. Ferrari and the NFT-related company will offer fans the option of owning digital collectibles from March 2022 (when the next Formula 1 season begins).
Scuderia Ferrari is happy to announce that from next season it will be able to count on a new Premium partner – Velas Network AG.
– Scuderia Ferrari (@ScuderiaFerrari) December 27, 2021
As part of the deal, Velas will also become the title sponsor of the Ferrari Esports Series, the single-brand online “The Prancing Horse” series and of the Esports team that will compete in the F1 championship.
Mattia Binotto – Managing Director and Team Director of Scuderia Ferrari – described the Swiss technology company as an entity that “makes innovation and performance the hallmark of technologically advanced products and services”.
In turn, Farhad Shagulyamov – CEO and co-founder of Velas Network AG – said his company has built a “next-generation blockchain that emphasizes both sustainability and performance”. The partnership with Ferrari, which is an “icon of excellence”, is a natural process, concluded the manager.
The racing division of Scuderia Ferrari is the most successful team in Formula 1. Throughout its history “The Prancing Horse” as its fans call it, has won the record 16 of Formula 1 constructors’ championships. 1 and 15 pilot championships.
Formula 1 and its connection with crypto
The first formula of motorsport has already dipped its toes into the world of cryptocurrency. In June of this year, the popular digital asset exchange CryptoCom became the global partner of the new Formula 1 Sprint series for 2021.
As part of the deal, the cryptocurrency platform had its logo displayed on the tracks at every race for the remainder of the season. In addition, CryptoCom has also become the official cryptocurrency sponsor and the NFT partner of the Sports Car Championship.
In October, Ferrari’s bitter rival – McLaren Racing – announced the launch of its non-fungible token platform, where fans and digital art collectors can purchase digital collectibles. The new functionality was built on the Tezos blockchain.
To celebrate the debut of the McLaren Racing Collectibles platform, the team decided to offer the digital first part of the MCL35M race car to the first 5,000 fans who joined the initiative.
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