Ferrari’s new deal with blockchain firm Velas hints at NFTs

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Start your engines! Ferrari makes its first move into the blockchain industry by inking a partnership with Swiss blockchain startup VelasBlockchain.

Italian luxury sports car manufacturer Ferrari is moving into the blockchain industry by inking a partnership with Swiss blockchain startup Velas Network.Monday that it had signed a multi-year agreement with Velas to jointly issue “exclusive digital content” for the Scuderia’s fans.

“A global player in the blockchain and NFT sector, Velas has distinguished itself through the performance and innovation of its services and its technological leadership, characteristics that unite it with the Maranello team.”

 

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Ferrari officially announced Monday that it had signed a multi-year agreement with Velas to jointly issue “exclusive digital content” for the Scuderia’s fans. Velas will also be the main sponsor for Ferrari Esports Series, the online series competing in the F1 Esports Series.

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So what is the utility behind the NFT? This is just another marketing piece.

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