Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG

The Italian luxury sports car manufacturer headquartered in Maranello, Italy, Ferrari has announced the firm is partnering with Velas Network AG, a firm that specializes in blockchain and non-fungible token (NFT) technology.

Ferrari Reveals Partnership With Blockchain Firm Velas

On December 27, Ferrari the well known luxury sports car maker founded in 1939 by Enzo Ferrari revealed the firm is stepping into the world of creating “exclusive digital content.” The racing division Scuderia Ferrari announced that the Italian car manufacturer has partnered with Velas Network AG in a multi-year agreement. The company says Velas will help bolster digital content for Scuderia fans and the announcement explains Velas will also be a title sponsor for the Ferrari Esports Series.

Velas network’s web portal notes that Velas is a Solana (SOL) fork with built-in EVM integration and the network launched in 2019. “We have the fastest EVN chain to compete with Ethereum 2.0,” the website claims. The company is located in Switzerland and Ferrari details in the announcement that Velas is a “global player in the blockchain and NFT sector.” Ferrari’s announcement further details that Velas will collaborate well with the Maranello team.

While Ferrari’s partnership with Velas does not mention any NFT promotions or blockchain concepts on the horizon, the company does disclose the Ferrari Esports Series sponsorship. Ferrari follows a number of automobile makers and racing division brands that have entered the blockchain space. In mid-June, the German carmaker Porsche entered the NFT industry and at the end of September, the Mercedes-AMG Petronas F1 team inked a long-term deal with FTX.

Mattia Binotto, the general manager and team principal at Scuderia Ferrari remarked on Monday that the company was pleased to collaborate with Velas Network AG. “[Velas is] a company that makes innovation and performance the hallmark of technologically advanced products and services: these are all values that unite us and that led us to choose Velas as one of our Premium Partner,” Binotto said in a statement.

Scuderia Ferrari also follows behind the Motor Team McLaren’s NFT project and the Ferruccio Lamborghini Museum NFTs. The co-founder and CEO of Velas Network AG, Farhad Shagulyamov, believes his company and Ferrari are natural partners. Shagulyamov leadership as CEO of Velas was just announced four days ago after “long and fruitful debates.”

“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,” Shagulyamov said in regard to the partnership with the Italian luxury sports car manufacturer. “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,” the Velas executive concluded.