Ferrari NFTs and Blockchain Projects May Be Coming Soon

Benedetto Vigna, CEO of Ferrari, shared they are looking at how new technologies such as NFTs and blockchain can help their brand. As such, the luxury sports car manufacturer set up a digital retail department that would focus on future projects.

While outlining the Q4 2021 results during the recent earnings call, Vigna asserted that Web 3.0 is an area that deserves their attention. He added, “We strengthen our relationship with leading-edge technological partners such as Amazon Web Services in Wales to be at the forefront of digital technologies and Web 3.0.”

The top executive cited Facebook’s move to change its name to Meta as a strong precedent that companies are bullish on Web 3.0 and the Metaverse. So there’s a massive opportunity for the brand in the digital space. 2022 is an important year for Ferrari because it will celebrate its 75th Anniversary. In addition, the foundations of a new business plan will be unveiled on June 16, 2022. With how things are going, NFT and Blockchain projects would be one of the highlights.

Ferrari’s 2022 NFT and Blockchain Efforts

Vigna also acknowledged that there’s a lot of movement in the NFT and blockchain space. In fact, their competitors are doubling down on NFTs. So “the Prancing Horse” should do the same to catch up with the competition. For example, Red Bull Racing teamed up with green blockchain Tezos to launch an exclusive NFT drop on sweet.io last December 2021. Meanwhile, McLaren Racing Collective launched 3D parts of its Formula 1 Car as NFTs.

On its part, Ferrari already took its first steps in the world of crypto at the end of 2021. The brand named Velas Network AG as its official NFT partner ahead of the 2022 racing season. The Swiss technology firm is an expert in creating digital products and services. So future Ferrari NFT drops are in good hands!

Ferrari is making a huge bet on NFTs because the multi-year contract extends across all its racing lines. Velas will be the Title Sponsor of the Ferrari Esports Series, the online mono-brand series of the Prancing Horse. The same arrangement applies to their Esports team.

The first digital collectibles will be available for purchase by March 2022 (when the next season of Formula 1 begins). Mattia Binotto, General Manager and Team Principal of Scuderia Ferrari, is confident that Velas is the perfect partner for this project. He described the firm as an entity that “makes innovation and performance the hallmark of technologically advanced products and services.”

Meanwhile, Velas’ co-founder and chief executive officer, Farhad Shagulyamov, is excited to showcase their platform. “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.”

Buckle up Ferrari fans because more NFT drops are headed your way!