Ferrari says that from next season blockchain technology provider Velas will be creating NFTs for their Formula 1 fans.
Italian luxury sports car maker Ferrari recently announced a deal with Swiss tech company Velas to create non-fungible tokens (NFTs) for fans. As per the agreement between the two parties, Velas will become a partner of Ferrari’s Formula 1 racing team from next season. Part of Ferarri’s official statement reads:
“… Velas will be the title sponsor of the Ferrari Esports Series, the Prancing Horse’s online single-make series, and of the Esports team that will compete in the F1 Esports Series, the official digital championship in which all teams participating in the World Championship participate. FIA Formula 1 World.
Ferrari announces more NFT-centric projects following collaboration with Velas
This partnership is the first of its kind for Ferrari. The famous automaker is looking to leverage the emerging NFT industry with the new collaboration. Additionally, Ferrari teases that several other similar projects would eventually see the light of day. Additionally, the Italian automaker is banking on its global notoriety and sprawling fan base to bring further success to this space.
Mattia Binotto, general manager and team manager of Scuderia Ferrari, Ferrari’s professional Formula 1 racing team, expressed his joy.
“We are delighted to begin this collaboration with Velas Network AG, a company that makes innovation and performance the hallmark of state-of-the-art products and services: these are all values that unite us and which led us to choose Velas as one of our Premium Partners, ”he said.
Velas CEO and co-founder Farhad Shagulyamov also weighed in on the initiative to collaborate with Ferrari. The CEO was excited to provide digital assets to Ferrari fans. Stating that Velas was up to the task, Shagulyamov said:
“Having built a next-generation blockchain that emphasizes both durability and performance, it was natural to partner with another icon of excellence, which is Ferrari. Velas has introduced an innovative variety of pioneering blockchain technologies and related products, which will now be showcased at the top of motorsport.
President and founder Alex Alexandrov also expressed similar optimism about the partnership with Ferrari.
Velas is a leading provider of digital products and services, including one of the fastest and most energy efficient blockchains in the world. Comprised of a diverse team of results-driven engineers, cryptographers, researchers, mathematicians and business leaders, the company is a melting pot of creativity and innovation. The tech company, founded in 2019, has played a key role in the blockchain industry. Velas revolutionizes the space thanks to centralized and decentralized solutions.
NFTs are the rave in the burgeoning world of digital assets. They grant ownership of unique digital properties on the blockchain and take the form of various media. These include images, art, music, and tweets, to name a few. NFT sales can range from a few hundred dollars to hundreds of thousands of dollars – and sometimes even millions. According to a Google tracker, Google users are searching for the term “NFT” more than ever. The volume of NFT searches is now slowly replacing that of “crypto”.
Tolu is a Lagos-based cryptocurrency and blockchain enthusiast. He enjoys demystifying crypto stories down to the essentials so that anyone, anywhere can understand without much background knowledge. When not in the thick of crypto stories, Tolu enjoys music, loves to sing, and is passionate about cinema.