Ferrari Steps into the Blockchain Technology and NFTs
Ferrari, the luxury vehicle manufacturer, has stated that it is considering non-fungible tokens (NFTs), the metaverse, and blockchain technology.
During Ferrari's Q4 2021 earnings call, CEO Benedetto Vigna informed investors that the business is eager to adopt the new technology. He also noted that Ferrari has announced a partnership with Velas Network, a Swiss blockchain startup that would produce special digital goods and sponsor Ferrari's racing squad.
In addition to that, Ferrari, the Italian luxury automobile manufacturer, is not backing down from its plans to enter the metaverse. Benedetto Vigna, Ferrari's CEO, remarked this in response to a query on what the company's investors might expect in terms of the metaverse and NFTs.
Ferrari, according to Vigna, is looking into how to incorporate new blockchain-based technologies because they will be critical to the company's future success.
“For sure, the digital technologies, the web 3.0 technologies that they’re using, the Blockchain, and the NFT is an area that is interesting for us, it deserves some attention,” said Vigna. He further stated that Ferrari had established up a full section in its retail department dedicated to digital technology. Ferrari has signed a multi-year agreement with Velas Network, a Swiss blockchain startup, to build the brand in the metaverse. Ferrari's Maranello racing team will receive exclusive digital collectibles from Velas. Velas will also be the team's official sponsor.
Ferrari NV (RACE) Q4 2021 Earnings Call Transcript: Here