Ferrari has signed a multi-year deal with Swiss technology company Velas Network to create digital content for its fans, the luxury sports car manufacturer said Monday.
Velas, supplier of digital products and services, will become a partner of Ferrari’s Formula 1 racing team from next season.
In addition, Velas will be the title sponsor of the Ferrari Esports Series, the online monobrand series of the Prancing Horse, and of the Esports team that will compete in the F1 Esports Series, the official digital championship in which all participating teams participate in the FIA Formula 1 World Championship,” Ferrari said in a statement.
Velas is a leading provider of blockchain technology and non-fungible tokens (NFTs), cryptographic assets stored on a blockchain, which have an identifier that makes them unique and have become popular as a way to sell digital art.
Ozzy Osbourne, the British heavy metal legend, recently decided to enter the NFT space with his first collection called Cryptobatz. With his collection, Osbourne is also pioneering a new feature associated with his NFT pieces called MutantBatz. This particular feature allows Osbourne’s NFT pieces to mutate with other NFTs held by buyers and create a new NFT piece. So far, NFT creators like Bored Ape Yacht Club, SupDucks, and CrypToadz have joined forces with Osbourne to get his NFTs mixed in with their pieces.
Under Armor, the American sportswear brand, has also made its metaverse debut. It has teamed up with NBA star Stephen Curry for an NFT drop to celebrate his new record as the all-time basketball star. To mark the Golder State Warrior guard’s record of 2,974 three-pointers in his career, Under Armor has released the world’s first cross-platform metaverse sneaker, a special edition Curry Flow 9.