Ferrari onboards Swiss tech firm Velas Network to create digital content for fans

Italian luxury sports car manufacturer Ferrari has signed a multi-year pact with Swiss technology firm Velas Network to create digital content for its fans, the luxury sports car maker said early this week.

According to the company, from the next season, Velas will also be the sole provider of digital products and services and will become a full-fledged partner of Ferrari’s Formula 1 racing team.

“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.

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According to the global sports car manufacturer, Velas is a leading provider of blockchain technology and non-fungible tokens (NFTs), cryptographic assets stored on a blockchain that has an identification code that makes them unique and has gained popularity as a way to sell digital art.