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Ferrari Partners With Velas -Breaking

by Mike Robinson

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Formula1 joins Blockchain With Ferrari Partners with Velas

Italian supercar manufacturer Ferrari (NYSE:) has signed a long-term Formula1 deal with the Velas blockchain to produce NFTs for the racing team’s fans.

Velas is an eco-system of decentralized products and scalable transactions that was established in 2019. It’s also a carbon-neutral blockchain network that seeks to implement decentralized services into the daily lives of brands and consumers.

Velas are set to start minting NFTs for Ferrari fans; the blockchain company aims to “open up a whole new dimension for the sport and the brand.”

“Having built a next-generation blockchain that emphasizes both 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,”
Farhad Shagulyamov (CEO and Co-Founder at Velas) commented.

The Flipside

  • These are details about the NFT ProjectsVelas and Ferrari are still to be confirmed.
  • The price of Velas’ cryptocurrency, ‘VLX,’ has risen notablySince the announcement of the partnership.

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