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Italian Luxury Carmaker Ferrari to launch Ferrari NFT with Solana backed Velas

Paras Katoch
ferrari to launch ferrari nft with velas

Ferrari to launch Ferrari NFT with Velas

Ferrari inked partnership with Solana backed blockchain company Velas to launch Ferrari NFTs

The Italian Luxury carmaker known to produce top-end sports cars has entered the NFT space for good. It has partnered with Velas, the creator of Velas blockchain ecosystem to launch its NFTs and marketplace.

Ferrari NFT will offer a number of benefits to Ferrari fans. The owner of Ferrari NFT will have the ability to connect with their favourite Formula 1 race car drivers and also receive rewards for holding the NFTs.

The company is planning to have a Metaverse like setup. The NFT owners will get a chance to interact in the Metaverse and they will be provided with special benefits like access to previously attended event replays and more.

The team will focus on providing a range of products and services as NFTs in the Las Vegas Grand Prix event to be held in November 2023.

Partnership with Velas marked the entry of Ferrari into the web3 space. Velas is Switzerland based blockchain company backed by Solana blockchain. The best part of Velas chain is its ability to host Solana & Ethereum virtual machines, making it a hybrid network.

This feature makes it compatible with apps developed on Solidity (the language of Ethereum) while maintaining high processing speed of 50,000+ transactions per second with low gas fee in the range of 0.00001$. Remember to checkout its native token VLX.

Leveraging Velas’ open-source ecosystem, Ferrari will be able to launch its NFT collectibles and build its own NFT marketplace. We have to wait and watch how fans will respond to supercar NFTs.

Lamborghini & Porsche are the other two luxury carmakers that have announced entry into the NFT space. The NFT adoption may have slowed down in the bear market but it’s still very much in demand.

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