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Ferrari Formula 1 Team Gets a Blockchain Boost

Scuderia Ferrari unveiled a partnership with blockchain technology company Velas that covers NFTs, esports, and all-new digital content offerings.

The Scuderia Ferrari racing team has been tearing up the track and blowing past checkered flags for nearly 100 years. And while a long list of valued partners has been essential to helping them realize their 16 Formula 1 constructor’s championships and 15 driver’s championships, the team just unveiled a new partnership that the good Signore Enzo Ferrari never could have dreamed of when he launched the team way back in 1929.

On Monday, Scuderia Ferrari announced a multi-year partnership with Velas Network AG, a Swiss-based company specializing in blockchain technology and NFTs that will work to create special digital collectibles and experiences for motorsport fans.

As Scuderia Ferrari General Manager and Team PrincipalMattia Binotto said on the occasion:

“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.”

Velas will additionally serve as title sponsor of the Ferrari Esports Series and of Ferrari’s team due to compete in the F1 Esports Series, the official competitive gaming championship of Formula 1 and its racing teams.

“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,”said Velas Network AG CEO and Co-founderFarhad Shagulyamov. “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.”

In the 2021 F1 season that concluded this month, Scuderia Ferrari finished third place in the constructor’s standings, with top driver Charles Leclerc finishing 16th in the driver’s championship. The team is best known in the modern era for its years spearheaded by racing icon Michael Schumacher, who won five consecutive F1 driver’s titles for Ferrari between 2000 and 2004.

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