The blockchain and NFT businesses, according to Ferrari CEO Benedetto Vigna, are niches that “deserve attention.” He also stated that the luxury sports vehicle maker might continue to engage in cryptocurrency-related businesses in the future.
Ferrari CEO Benedetto Vigna stated in the company’s fourth-quarter 2021 financial report that the company would continue to focus on Web3.
We are strengthening our ties with prominent technology partners such as Amazon Web Services in Wales in order to stay on the cutting edge of digital and Web 3.0 technologies.
Additionally, he added that Ferrari is interested in blockchain technologies, Web3, and NFT. They could contribute to the brand’s future development and boost its position as a market leader in its sector. Virginia remarked:
As we previously said, I believe it is essential to examine how new technology might benefit our brand. Without a doubt, digital technologies, particularly web 3.0 technologies that incorporate Blockchain and NFT, are an area that deserves our attention.
The CEO acknowledged that the cryptocurrency business is advancing rapidly. He also said that several of Ferrari’s competitors have already dipped their toes into the digital asset market, implying that “The Prancing Horse” should follow suit in order to stay competitive.
At the end of 2021, the Italian sports car maker made its first foray into the world of cryptocurrency. He then teamed up with a Swiss technology company, Velas Network AG, to manufacture non-removable tokens for his fans.
From March 2022, the digital collections will be available for purchase (when the next Formula 1 season begins).
Mattia Binotto, CEO and Team Director of Scuderia Ferrari, described Velas as an entity that “makes innovation and efficiency the hallmark of high-tech products and services.”
The Swiss organization’s CEO, Farhad Shagulyamov, stated that the partnership with Ferrari is a perfect match because the Italian brand is a “symbol of excellence.”