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‪Ferrari’s CEO Reveals Plans To Integrate NFTs, Metaverse And Web3

Luxury car maker, Ferrari, has reiterated that it is giving Non-Fungible Tokens (NFTs), the metaverse, and blockchain technology serious consideration. During the company’s Q4 2021 earning call, Benedetto Vigna, the CEO of Ferrari, assured investors that the carmaker is keen on adopting the new technology.

Ferrari recently signed a deal with Swiss blockchain company Velas Network that will see the start-up issue exclusive digital collectibles and sponsor Ferrari’s racing team.

Ferrari going full steam with NFT adoption, says its CEO

Italian luxury car brand, Ferrari, is not backing down on its plans to have a presence in the metaverse. Ferrari’s CEO, Benedetto Vigna, stated this while responding to a question on what the company’s investors should expect as far as the metaverse and NFTs are concerned.

Benedetto maintained that Ferrari was exploring how to incorporate new technologies made possible by blockchain as they would play a key role in the future of the company.

 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,  he said.

He added that the company had set up a whole department dedicated to digital technology in its retail unit. Ferrari recently inked a multi-year deal with Velas Network, a Swiss blockchain start-up, that is geared towards establishing the brand in the metaverse. Velas will issue exclusive digital collectibles for Ferrari’s Maranello racing team. Velas will also be the official sponsors of the team.

The new year has come with more momentum for NFTs

The NFT industry is gaining even more adoption from major brands in 2022. The NFT craze is reaching brands cutting across all industries. The Walt Disney Company also recently announced that it is looking to hire an expert in NFTs to manage its plans for digital assets. Other brands that have joined the NFT bandwagon this year include Lamborghini, YouTube, and Twitter.

With sales of NFTs at record highs and the digital assets getting more attention, it is no surprise that more brands are developing their blockchain adoption strategy around it. Similarly, the industry is expanding with more ways to get on board. Today, video game maker GameStop announced that it will be launching its NFT marketplace, along with a $100 million fund to encourage game developers to integrate NFTs.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Olivia’s interests spans across the Cryptocurrency and NFT and DeFi industry. She remains as fascinated by cryptocurrencies today, as she was back in 2017, when she first started reading up about them. She’s actively on the lookout for the latest Crypto related stories. When she’s not writing, she’s catering to her pet chihuahua, or curating vegan recipes. Reach me at [email protected]

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