Legendary racing car manufacturer, Ferrari, is the latest high-speed entry to the NFT market. The Italian motor giant’s racing division, Scuderia Ferrari, will partner with Velas Blockchain to jointly produce exclusive digital content.

Together, they have penned a multi-year deal that will make Velas responsible for the team’s non fungible contributions. This blockchain-based promotional material will span the company’s wide range of racing endeavours, including both the F1 and Esports teams, and will therefore feature some of the greatest race cars ever to grace the circuit.

The partnership highlights a growing trend of motor racing teams using NFTs as a way of enhancing fan engagement. However, to date, the Tezos blockchain plays host to the majority of F1-based NFT collections, and it will therefore be interesting to see what Velas brings to the table.

Velas Blockchain is a Swiss start-up running an Ethereum Virtual Machine on a fork of Solana, and promises incredible transaction speeds that will compete side by side with the upcoming Ethereum 2.0 blockchain, setting itself up as a global player in the blockchain and NFT sector. Now with Ferrari on their side, they have the launchpad required to make waves in the market.

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