Ferrari (RACE.MI) announced on Monday that it has signed a multi-year deal with Velas Network, a Swiss technology startup, to generate digital content for its fans.
Velas, a developer of digital products and services, will join Ferrari’s Formula 1 racing team as a partner beginning next season.
“Moreover, Velas will be the Title Sponsor of the Ferrari Esports Series, the Prancing Horse’s online mono-brand series, as well as the Esports team that will compete in the F1 Esports Series, the official digital championship competed in by all teams participating in the FIA Formula 1 World Championship,” Ferrari said in a statement.
Velas is a leading developer of blockchain technology and non-fungible tokens (NFTs), which are cryptographic assets kept on a blockchain with a unique identifying code and have grown in popularity as a means of selling digital art.
