Ferrari Enters the NFT Universe by Partnering With Swiss Blockchain Developer


Scuderia Ferrari signed a multi-year partnership with the Swiss expertise firm – Velas Network AG – to create non-fungible tokens (NFTs) for its followers. This is the racing workforce’s first interplay with the digital asset trade, whereas some Formula 1 rivals have already marked preliminary steps.

Ferrari Jumps into The World of Crypto

In its official assertion, the well-known sports activities automotive maker revealed it’s “pleased” to have Velas Network AG as an affiliate. Ferrari and the NFT-related agency will present the followers with the prospect to personal digital collectibles from March 2022 (when the subsequent season of Formula 1 begins).

As a part of the deal, Velas may even grow to be Title Sponsor of the Ferrari Esports Series, the net mono-brand sequence of “The Prancing Horse,” and the Esports workforce that may compete within the F1 championship.

Mattia Binotto – General Manager and Team Principal of Scuderia Ferrari – described the Swiss tech agency as an entity that “makes innovation and performance the hallmark of technologically advanced products and services.”

In flip, Farhad Shagulyamov – CEO and Co-Founder of Velas Network AG – acknowledged his firm has constructed a “next-generation blockchain that puts the emphasis both on sustainability and performance.” Partnering with Ferrari, which is an “icon of excellence,” comes as a pure transfer, the manager concluded.

The Scuderia Ferrari racing division is essentially the most profitable workforce in Formula 1. Throughout its historical past, “The Prancing Horse,” as it’s recognized amongst its followers, has gained the document 16 Formula 1 constructor’s championships and 15 driver’s championships.

Formula 1 And Its Connection with Crypto

The premier system of motorsport has already dipped its toes within the cryptocurrency universe. In June this 12 months, the favored digital asset trade CryptoCom grew to become the worldwide accomplice of Formula 1’s new Sprint sequence for 2021.

As a part of the deal, the cryptocurrency platform had its brand displayed on the tracks at each race for the rest of the season. Moreover, CryptoCom additionally grew to become the Official Cryptocurrency Sponsor and NFT Partner of the sports activities automotive championship.

In October, Ferrari’s bitter rival – McLaren Racing – introduced the launch of its non-fungible tokens platform, the place followers and digital artwork collectors can buy digital collectibles. The new function was constructed on the Tezos blockchain.

To have fun the debut of the McLaren Racing Collectibles platform, the workforce determined to reward the primary digital a part of the MCL35M race automotive to the primary 5,000 followers who joined the initiative.

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