Ferrari jumps into the NFT hype by announcing a partnership with an NFTs provider network

What happened: The Italian sports car manufacturer Ferrari before the year ended on December 29, announced a deal with the NFT marketplace Swiss owned by Velas network. Ferrari announced on their official website and promised  “exclusive content.”  Details: Ferrari’s official website read,  “We are pleased to start this collaboration with Velas Network AG.”  The NFT experts have said,  “The future of NFTs within the automotive collector’s market is very bright. There is a lot of potential here.”  However, Velas will partner up with Ferrari’s Formula 1 racing team from the next racing season. Velas itself is a provider of blockchain technology and NFTs.  What else: Other than Ferrari, renowned brands like  Nike, Addidas, Louis Vitton and Budweiser  have jumped into the NFT universe. Ferrari has also hinted at their exclusive NFTs before the year ends as Ferrari’s official website read,  “This will be opening a new dimension for the sport and the brand.”