Nobody is spared by the NFT bug and Italian Luxury car brand, Ferrari’s latest move is proof of the same.
The NFT frenzy has been growing without a stop. While some believe that it’s a mere bubble that would break in the near future, a few others suggest that it is the future. The intangible nature of these tokens has appalled many but their non-fungible attribute has lured in several. Ferrari wanted to ride the NFT wave as well similar to its counterparts Lamborghini and Mercedes.
During the luxury car firm’s recent earnings call, CEO Benedetto Vigna addressed the whole NFT fervor. Vigna revealed that Ferrari would be dipping its feet in the NFT market very soon. He specifically stated,
Furthermore, this is the first time that Ferrari has officially spoken about NFTs. However, the firm previously signed a deal with Velas Network, a blockchain platform based in Swiss.
Ferrari entered a multi-year agreement with the blockchain firm in order to roll out digital content for its fans. The announcement 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.”
While there’s no official information on who would lead the Ferrari NFT wing, the chances of Velas doing so was high.
After Ferrari other automakers to steer into the NFT biz?
The automobile industry seemed to have taken a special interest in NFTs. Right the new year began, an array of automakers drove into the NFT space. Mercedes Benz bagged a wide range of artists across the globe to deliver NFT commemorating the firm’s G-Class line.
Lamborghini, however, wanted to do things differently. The luxury car brand recently gave a peek into its very first NFT. The NFT has been auctioned since the beginning of February. Unlike its counterparts, Ferrari and Mercedes, Lamborghini rolled out physical keys made from actual materials that were sent to space.
Ferrari’s latest move was certainly an indication that several other automakers could soon zoom into the NFT industry.