Ferrari Enters The World Of NFTs, Partners With Velas Blockchain

Luxury sports car manufacturer Ferrari announced its partnership with Swiss blockchain startup Velas Network. The two companies have signed a multi-year agreement to jointly issue “exclusive digital content” for the Scuderia’s fans.
According to the announcement, Velas will also be the Title Sponsor of the Ferrari Esports Series, as well as of the Esports team that will compete in the F1 Esports Series. F1 Esports Series is the official digital championship where all FIA Formula 1 World Championship teams compete.
"We are pleased to start this collaboration with Velas Network AG, 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," said Mattia Binotto, GM and Team Principal, Scuderia Ferrari.
Ferrari said that Velas is a global player in the blockchain and NFT sector, that has distinguished itself by the performance and innovation of its services and its technological leadership. And that these characteristics unite it with the Maranello team.
"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," said Farhad Shagulyamov, CEO and co-founder, Velas.
Founded in 2019, Velas Network relies on Delegated Proof of Stake consensus (DPoS) and has developed an ecosystem of services and products that aim to merge the qualities of both centralized and decentralized solutions. The native token of the Velas blockchain, VLX, has edged up significantly recently. The firm claims itself the world's fastest EVM Blockchain enabling up to 75 000 tx/s, processed instantly, at almost no cost.