Owning a Ferrari is a very expensive dream for most, but now with Ferrari’s new NFTs, that dream could be closer. NFTs, or non-fungible tokens, are a new type of digital asset that has been trending as big tech builds the Metaverse. Owning an NFT is like owning the real thing, only that the real thing is digital.

The NFT fever is rapidly catching on and strongly linked to cryptocurrencies. It's also growing exponentially. Brands like One Plus, Budweiser, Nike, Visa, Adidas, and Louis Vuitton, to name just a few, have jumped into the NFT universe. Usually, NFTs sell for a couple of dollars, however, there are rare cases where NFTs prices skyrocket.

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With prices ranging from 250 thousand dollars to up to 1.8 million dollars owning a brand new Ferrari is strictly for deep pockets. But now, to please its fan base, Ferrari will soon sell digital Ferrari NFTs. Ferrari announced a new partnership with Velas Network AG. Velas said they would break into 2022 at full Formula 1 speed with Ferrari. The company is known internationally for its openness and leadership in blockchain, digital products, and services.

A New Ferrari Digital Dimension

Ferrari Poster
Photo via Ferrari

In 2022 when Formula 1 kicks off the iconic red Ferrari car will run with Velas name on it. Velas will also be the title sponsor for Ferrari’s Esports Series Team. The Esports series is a virtual championship where FIA Formula 1 World Championship teams compete digitally. Velas says it makes sense for them to team up with Ferrari because they are the “fastest and most energy-efficient blockchains in the world” and Ferrari has the fastest cars.

Many have criticized blockchains running crypto trades and NFTs services due to massive energy use and the impact it has on the planet. But Ferrari chose Velas not only because of their speed. The company is a carbon-neutral operation. “They have revolutionized the world of blockchain by creating a pioneering, energy-efficient platform that operates at unparalleled speed,” Ferrari says.

It is still unclear what Ferrari digital products will Velas develop. The company could even go as far as creating its own crypto. It is only a matter of time until the natural evolution of the new digital economy becomes widely accepted by the automotive industry. Tesla at some point accepted cryptocurrencies and will probably switch back to them. Velas hinted that they have a wide range of benefits and services for the Ferrari fan base. They added they will be “opening a new dimension for the sport and the brand.

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Source: Ferrari, Velas