Ferrari has inked a deal with Swiss technology firm Velas Network to create nonfungible tokens (NFT) for its fans, the luxury sports car maker said. NFTs enable users to own rare digital artifacts through the blockchain network that backs cryptocurrencies. All forms of art, tweets, music, GIFs, and more such digital assets can be owned through NFTs. The possibilities of buying and selling digital assets are endless.
From next season, 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 the Scuderia’s fans.
“In addition, Velas will be 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,” Ferrari said in a statement.
Led by a diverse team of engineers, cryptographers, researchers, and mathematicians, Velas is a global player in the blockchain and NFT sector and has distinguished itself through the performance and innovation of its services and its technological leadership, characteristics that unite it with the legendary Maranello-based racing team.
The multi-year agreement provides for the creation of exclusive digital content for the Scuderia’s fans. In addition, Velas will be 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.
Mattia Binotto, General Manager and Team Principal, Scuderia Ferrari, said: “We are pleased to start this collaboration with Velas Network, 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.”
Farhad Shagulyamov, CEO co-founder, Velas Network, added: “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.”
Earlier in 2021, Ferrari signed up Amazon Web Services as the Official Cloud, Machine Learning, and Artificial Intelligence Provider to Scuderia Ferrari. Together, the companies will accelerate the pace of innovation across the entire Ferrari organization, including their road cars department, GT Competitions, the Ferrari Challenge, and the Scuderia Ferrari Formula 1 (F1) team.
Meanwhile, the Scuderia Ferrari F1 team is planning to launch its 2022 F1 car sometime in mid-February. It became the first team to reveal the timeline for the launching of its 2022 season challenger.
Ferrari will undergo a technical overhaul as Formula One enters a new year. The Italian manufacturer will look to build on its improved aerodynamic performance following a change in the F1 regulations with the target of making them easier to race and overtake.
After being bereft of success in the recent past, Ferrari will be keen to start 2022 on a good note. The 2020 campaign was dismal as they finished sixth in the constructors’ championship.
Charles Leclerc and Carlos Sainz helped the team conclude third in the standings and score two pole positions and five podiums.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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