Ferrari Inks A Multi-Year Agreement With NFT Firm Velas Network.

Ferrari Inks A Multi-Year Agreement With NFT Firm Velas Network.

2021-12-30 | Selina Mathew

Ferrari Inks A Multi-Year Agreement With NFT Firm Velas Network.

Ferrari is the most recent mainstream corporation to join up with Velas Network, a company recognised for developing digital products and working in the blockchain and non-fungible token (NFT) sectors. Velas stated on Monday that it has transformed into a multi-year sponsor of Scuderia Ferrari, the Italian auto maker's sports squad, and has been named a Premium Partner. "We are delighted to begin this cooperation with Velas Network AG, a company that creates advancement and productivity the hallmarks of technically sophisticated goods and facilities: these are all principles that connect us and prompted us to select Velas as one of our Premium Partners," said Mattia Binotto, General Manager and Team Principal at Scuderia Ferrari. Marketing of the Brand According to the terms of the deal, Velas would be the Title Sponsor of the Ferrari Esports Series as well as the Esports squad that will participate in the F1 Esports Series. In addition, the NFT developer will provide some special digital material for sports team supporters. Farhad Shagulyamov, Co-Founder and CEO of Valas Network, stated, "Establishing a next-generation blockchain that emphasises both sustainability and efficiency, it was logical to join with another symbol of perfection, which is Ferrari.  Velas has pioneered a wide range of cutting-edge technologies into blockchain and related goods that would finally be presented at the summit of motorsport." The newest Ferarri collaboration comes only days after the racing team inked a huge agreement with the Spanish lender, Barco Santander. Nevertheless, cryptocurrency and blockchain firms have proceeded to place their logos on sports clubs. Exchanges like as Crypto.com and FTX signed several of the sector's largest transactions, investing hundreds of millions of dollars.

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