Italian luxury sports car manufacturer Ferrari is moving into the blockchain industry by inking a partnership with Swiss blockchain startup Velas Network.
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, the official digital championship including all teams participating in the FIA Formula 1 World Championship.
The announcement describes Velas as a major company in the industry of digital assets and blockchain, emphasizing the startup’s focus on nonfungible tokens (NFT):
“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.”