Ferrari Signs Multi-Year Agreement With NFT Firm Velas Network AG

Ferrari has partnered with Velas Network AG, known for digital product creation and operating in the blockchain and non-fungible token (NFT) sector. The company will partner with a racing team to release NFT tokens and other digital collectibles.

In addition, Velas Network AG will be the title sponsor of the virtual Ferrari Esports Series and the automaker's esports team that will compete in the F1 Esports Series.

Velas token price has risen by 24% and exceeded $0.41 after the announcement that Velas Network AG has become a partner of the Scuderia Ferrari team of the Formula 1 championship. At the time of this writing, the Velas token is trading at $0.3603.

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