Other sports: Ferrari signs contract with technology company Velas to develop digital products for fans

(Reuters) – Ferrari has signed a multi-year agreement with Swiss technology company Velas Network to create digital content for its fans, the luxury sports car maker announced on Monday.

From the coming season, Velas, provider of digital products and services, will partner with Ferrari’s Formula 1 racing team.

“Velas will also become the title sponsor of the Ferrari Esports Series, the Prancing Horse’s online mono-brand series, and the esports team that will compete in the F1 Esports Series, the official digital championship in which all participating teams take part in FIA Formula 1 World Championship, “Ferrari said in a statement.

Velas is a leading provider of blockchain technology and non-fungible tokens (NFTs), cryptographic assets stored on a blockchain with an identification code that makes them unique and has grown in popularity as a sales method for digital art.

(Reporting by Silvia Recchimuzzi in Danzig; editing by Valentina Za and Christian Schmollinger)