Ferrari Is Excited to Enter the Metaverse and NFTs – Are EVs the No. 2 Priority?

A Ferrari executive says the premium sports car maker plans to enter blockchain, metaverse, and non-fungible token (NFT) industries in future. The company’s senior brass also announced that they want to keep investing in the company’s cryptocurrency activities in the near future.

When asked about Ferrari’s plans to keep up with the rapid rate of technological change, Vigna said the company is exploring all options.

Velas Network, a blockchain firm based in Switzerland, recently struck an agreement with Ferrari that lays the way for the development of exclusive digital content and the Scuderia’s own metaverse brand.

In return, Velas will manage the majority of Ferrari’s official e-sport teams and sponsor the company’s official competitions.

The Metaverse Is Revved By Ferrari

Ferrari has confirmed its plans to enter the metaverse with this announcement. It is this cooperation with Amazon Web Services (AWS) in Wales that is at the forefront of this growth.

“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,” Vigna said in an interview with Binance.

Within its retail department, Ferrari has established a new unit specialising in digital technologies in order to better respond to this new reality.

Web 3.0 is a decentralised internet infrastructure powered by blockchain, despite the absence of a clear description. Web 3.0 market shares can be purchased in the form of digital tokens, unlike the 1.0 and 2.0 versions, which are owned by no one.

There would be no need for government oversight if this site were owned by “random people.” It would also diminish the power of Silicon Valley giants like Meta and YouTube, which have corporate backing.

A Field That Is Quite Dense

It’s also worth noting that Vigna recognised that Ferrari is up against a large and formidable competition in the cryptocurrency market.

He also stated that “The Prancing Horse” has a long way to go before it can be considered a leader in such a crowded sector.

Traditionalists, on the other hand, view Ferrari as synonymous with a range of powerful engines, and believe that discontinuing them would be an act of sacrilege.

The idea of a Ferrari without a booming and symbolic V8 or V12 is frowned upon by many Ferrari enthusiasts.

Nonetheless, the iconic Italian company is unable to resist the trend toward electric vehicles (EVs), which is clearly the way of the future. Ferrari is interested in attracting a new customer base, but it isn’t rushing into it.

Sales of NFTs are increasing daily, and as more people learn about digital assets, they expect more businesses — even “institutions” in the automobile industry — to adopt the blockchain system for their products. They are already seeing this happen.

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