In Brief:
- Tech firm Velas and the luxury sports car maker Ferrari sign a multi year deal.
- The long term agreement provides for the creation of exclusive digital content for the Scuderia’s fans.
- Velas will become a partner of Ferrari’s Formula 1 racing team from the upcoming 2022 season.
From the next season the Swiss-based technology firm, Velas, a provider of digital products and services, will become a partner of Ferrari’s Formula 1 racing team. The multi-year agreement provides for the creation of exclusive digital content for Scuderia’s fans. “Ferrari has inked a deal with Swiss technology firm Velas Network to create non-fungible tokens (NFT) for its fans”, the luxury sports car maker said.
In addition to the exclusive content, Velas will also be the title sponsor for all the Title Sponsor of the Ferrari Esports Series, the online mono-brand series of the Prancing Horse, and of the Esports team that will compete in the F1 Esports Series, the official digital championship competed in by all teams participating in the FIA Formula 1 World Championship.
“Having built a next-generation blockchain that puts the emphasis both on sustainability and performance, it was natural to partner with another icon of excellence, which is Ferrari. Velas has introduced an innovative variety of pioneering technology into the blockchain and associated products, which will now be showcased at the pinnacle of motorsport,” said Velas Network AG.
This multi-year deal will be Ferrari’s first collaboration of its sort, with a number of joint activities planned to profit from the company’s global motorsport popularity and highly engaged fan base. As a result, Velas technology will assist spectators like never before, giving the sport and the brand a whole new dimension.
Established in 2019, Velas is motivated towards fabricating and inculcating world-changing technological advancements and services to build people’s lives all over the globe.
A blockchain, for those unfamiliar with digital assets, is a digital ledger of transactions that is copied, encrypted, and distributed throughout a network. This means that all transactions are safe and do not require the intervention of a third party.
Google users are predominantly searching for “NFT” while “crypto” is no longer the most demanded term. Thousands of people are bidding on the artefacts, and some are even selling for millions of dollars. Companies ranging from beverage labels Pepsi and Coca-cola to athletic conglomerates Nike and Adidas are racing to interact with and market to consumers in the nascent digital realm.
