Ferrari score Velas Network partnership

The Swiss tech firm has signed a multi-year deal.

Italian Formula One giants Ferrari have signed a multi-year deal with Swiss technology firm Velas Network, which will see the latter create digital content for the Tifosi. The deal also sees Velas become a partner of the Scuderia.

Velas is a leading provider of blockchain technology, providing non-fungible tokens and cryptographic assets that are stored on a blockchain with an identification code that makes them unique. They have gained popularity in recent months, currently being sold as a form of digital art.

The Swiss firm will also become the title sponsor of the Ferrari Esports Series.

Mattia Binotto, General Manager and Team Principal, Scuderia Ferrari, commented:

“We are pleased to start this collaboration with Velas Network AG, a company that makes innovation and performance the hallmark of technologically advanced products and services: these are all values that unite us and that led us to choose Velas as one of our Premium Partner.”

Farhad Shagulyamov, CEO and Co-Founder, Velas Network AG, added:

“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, which is Ferrari. Velas has introduced an innovative variety of pioneering technology into the blockchain and associated products, which will now be showcased at the pinnacle of motorsport.”

Ferrari released a statement, which read:

“In addition, Velas will be Title Sponsor of the Ferrari Esports Series, the online mono-brand series of the Prancing Horse, and of 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.”