NFT REVIEW Ferrari NFTs Coming to Market Soon

Cryptocurrencies have a tremendous influence on the spread of NFT fever. As a result, it’s expanding at an exponential rate. Nike, Visa, Adidas, and Louis Vuitton are a few well-known companies to leap on NFTs. So, why not Ferrari NFTs?

Often, we sell NFTs for a few bucks, but there are a few instances where NFT prices rise significantly. Ferrari, the Italian sports car manufacturer and F1 club member didn’t hesitate to enter the NFT market when it saw the growing popularity of digital ownership. They may not have garnered as much attention as the Ferrari NFT deserved, but they can still be had at a very reasonable price. 

Owning a Ferrari is usually a pipe dream for the average person, but with the new Ferrari NFTs, that pipe dream may be a little closer to reality. A new digital asset known as non-fungible tokens (NFTs) has been rising as big tech constructs the Metaverse. It is like possessing the real thing, except that a real thing is a digital object.

Collaboration between Velas and Ferrari NFTs

Ferrari and Velas Network, a Swiss technology company, recently formed a joint venture. The Velas relationship will provide Scuderia fans with access to exclusive digital content.

In an official announcement by Ferrari, Velas will also serve as “Title Sponsor” of the Ferrari Esports Series, which is a single-brand online series, and of the F1 Esports Series, the official digital championship for all Formula 1 teams. Farhad Shagulyamov, Velas’ co-founder and CEO, is looking forward to showcasing the company’s platform. Since we’ve developed a next-generation blockchain that prioritizes sustainability and performance, partnering with another symbol of excellence seemed only appropriate.

It’s not just Red Bull Racing that’s doubling down on NFT. One of the team’s drivers, Max Verstappen, recently won the World Championship in 2021. So Red Bull released 33 limited edition Max Verstappen NFTs to commemorate his triumph. A huge success; all NFTs were sold out in one day!

Most crypto-related operations face the question of energy efficiency and, in some cases, accusations that heavy energy use is harming the planet’s health. Some of the most popular blockchains are indeed energy-intensive, but this cannot be generalized to all blockchains.

For this reason, Ferrari has chosen to join an organization that is working to solve the “extreme energy use” problem, to mint Ferrari NFTs. As a result, Velas became their partner. Velas has a carbon-neutral operation, making it a great alternative for those seeking both modern and environmentally friendly technology.

What Ferrari NFT products Velas will create is still a mystery. It could even create its cryptocurrency if necessary. The automobile sector will have completely embraced the new digital economy’s inevitable progression shortly. 

Tesla once accepted cryptocurrency payments and is likely to do so again in the future. We should expect to see more new offerings from Velas for Ferrari fans. According to them, “a new horizon for the sport and the brand”, would open due to the partnership.

Afterthought

Ferrari NFTs were certain to happen, keeping up with the Joneses and all that. Other F1 teams are certain to announce their NFT plans in the coming months. Where one goes, others are sure to follow.