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Ferrari Signs A Multi-Year Agreement With Blockchain Firm Velas Network AG


Ferrari, based in Maranello, Italy, has announced a collaboration with Velas Network AG, a company that specialises in blockchain and non-fungible token (NFT) technology.

Ferrari, the well-known premium sports car maker founded in 1939 by Enzo Ferrari, announced on December 27 that the company is entering the area of developing “unique digital content.” Scuderia Ferrari, the Italian automobile manufacturer’s racing branch, established a multi-year partnership with Velas Network AG. Velas will assist enhance digital content for Scuderia fans, according to the firm, and the company will also be a title sponsor for the Ferrari Esports Series, according to the release.


According to the Velas network’s web portal, Velas is a Solana (SOL) derivative with built-in EVM integration, and the network started in 2019. “We have the fastest EVN chain to compete with Ethereum 2.0,” according to the website. The company is based in Switzerland, and Ferrari describes Velas as a “global player in the blockchain and NFT market.” According to Ferrari’s release, Velas will work well with the Maranello team.


While Ferrari’s relationship with Velas does not identify any NFT campaigns or blockchain concepts in the works, the business does reveal its support of the Ferrari Esports Series. Ferrari joins a growing list of automakers and racing division companies who have joined the blockchain space. Porsche entered the NFT market in mid-June, while the Mercedes-AMG Petronas F1 team signed a long-term partnership with FTX at the end of September.

Scuderia Ferrari’s general manager and team principal, Mattia Binotto, stated on Monday that the team was excited to partner with Velas Network AG. “[Velas is] a company that makes innovation and performance the hallmarks of technologically advanced products and services: these are all values that connect us and drove us to choose Velas as one of our Premium Partners,” said Binotto in a statement.

Scuderia Ferrari also supports the NFT projects of Motor Team McLaren and the Ferruccio Lamborghini Museum. Farhad Shagulyamov, co-founder and CEO of Velas Network AG, believes his company and Ferrari are natural partners. Shagulyamov’s appointment as CEO of Velas was announced four days earlier, following “extensive and constructive debates.”

“Having established a next-generation blockchain that focuses on both sustainability and performance, it was natural to join with another icon of excellence, which is Ferrari,” Shagulyamov said of the collaboration with the Italian luxury sports car maker. “Velas has introduced an inventive array of pioneering technology into the blockchain and associated products, which will now be presented at the pinnacle of motorsport,” said the Velas CEO.