Ferrari to issue NFTs for its fans

Italian carmaker Ferrari is entering the blockchain industry. It has partnered with Swiss blockchain startup Velas Network.


Ferrari to release ‘exclusive digital content’

Ferrari made official on Monday known that it had signed a multi-year agreement with Velas. They will jointly release “exclusive digital content” for Scuderia fans. Velas will also become the title sponsor of Ferrari Esports Series, the online series competing in the F1 Esports Series. This is the official digital championship with all teams participating in the FIA ​​Formula 1 World Championship.

Ferrari’s partnership announcement describes Velas as a major company in the digital asset and blockchain industry. It also highlights the startup’s focus on nonfungible tokens (NFTs):

“Velas is a global player in the blockchain and NFT sector, distinguished by the performance and innovation of its services and its technological leadership, characteristics that unite him with the Maranello team.”

Mattia Binotto, general manager of Scuderia Ferrari, explained why Ferrari chose Velas as one of its premium partners. The companies share the same areas of interest, such as innovation and highly technologically advanced products and services.

Farkhad Shagulyamov, co-founder and new named CEO of Velas, said it made sense for Velas to partner with Ferrari.” He said:

“Velas has introduced an innovative variety of breakthrough technology to blockchain and related products. These will now be showcased at the pinnacle of motorsport”


What is Velas?

Velas is an open-source blockchain network that works to blend of the best features of centralized and decentralized tools. In October, the company allocated $100 million to startups building on the Velas blockchain. This was a significant increase from the initial $5 million commitment.

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