2021 has undoubtedly been a big year for non-fungible tokens (NFTs), as they quickly gained traction shortly after their introduction to the public. This industry has seen incredible growth and adoption since its launch, not to mention how it has turned into a multi-million dollar industry.
Due to its massive success, companies, celebrities, musicians, and more have decided to join in on the fun to try and earn a considerable amount of money. One of those companies that jumped in on the wagon is none other than Ferrari.
Ferrari Is Venturing Into the World of NFTs
According to a report by Reuters, Ferrari sealed a deal with Swiss technology firm Velas Network. Velas Network will develop various digital content for the luxury automotive maker for the duration of their contract. On the official Ferrari website, an announcement states that the two companies will work side by side to release “exclusive digital content” related to Ferrari cars.
Velas is a big name within the NFT and blockchain industry. The company owns none other than the Velas NFT Marketplace, where companies, teams, and organizations gather to create various and imaginative NFTs for their users.
For one thing, Velas will be collaborating with Ferrari’s racing team, Formula 1, which is included in their multi-year deal. Not only that, but the firm will also be a Title Sponsor during the Ferrari Esports Series.
Ferrari’s General Manager and Team Principal, Mattia Binotto, seemed satisfied with the partnership.
Farhad Shagulyamov, Velas Network’s CEO and co-founder, also had encouraging and positive words to say about the deal. Shagulyamov praises Ferrari in an official quote, saying that the brand is an “icon of excellence.” As such, it made sense for the firm to collaborate with Ferrari, as it dedicated itself to “sustainability and performance.”
VLX Token Rises
Since the announcement, the Velas token known as VLX has seen a notable increase in value. The token was only trending around $0.25 previously, but now it has risen to over $0.35. It’s clear that this new partnership with Ferrari will introduce the firm to an entirely new user base.
After all, Ferrari also has a fanbase of millions, and Velas can undoubtedly benefit from that. Ferrari’s official Twitter account has over 3.3 million followers, while its official Instagram has over 21 million followers.
