Italy-based high-end sports car manufacturer Ferrari is reportedly establishing its presence throughout the blockchain sphere, via forging an alliance with Swiss blockchain startup Velas Network.

Specifically, Ferrari reportedly issued an official announcement on December 27th, regarding the completed status of a multi-year agreement with Velas, to collaboratively roll out “exclusive digital content” for the Scuderia’s fans. 

Velas will reportedly also take up the role of the primary sponsor for Ferrari Esports Series, the online series participating in the F1 Esports Series, the official digital championship including every team joining in the FIA Formula 1 World Championship.

The announcement reportedly referred to Velas as a high-profile firm in the sector of digital assets and blockchain, highlighting the startup’s concentration on non-fungible tokens (NFT).

“A global player in the blockchain and NFT sector, Velas has distinguished itself through the performance and innovation of its services and its technological leadership, characteristics that unite it with the Maranello team.”

Scuderia Ferrari general manager Mattia Binotto further claimed that the firm selected Velas as one of its premium partners, due to the reason that the entity possesses a variety of values, nominally innovation and performance of technologically advanced products and services.

Farkhad Shagulyamov, a co-founder who just recently sat in the chair of the Head of Velas, additionally revealed that it was natural for Velas to forge an alliance with “another icon of excellence, which is Ferrari.”

“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,”