Ferrari's CEO admits that the company is looking into Blockchain Technology and NFTs

The blockchain and NFT industries, according to Benedetto Vigna, Chief Executive Officer of Ferrari, are niches that "deserve some attention."

Ferrari's CEO says Blockchain and NFT could be interesting for us
Benedetto Vigna, Chief Executive Officer of Ferrari | Image: Wiki Biography

As a result, the executive intimated that the luxury sports vehicle manufacturer's cryptocurrency efforts would continue in the future.

Ferrari's CEO says Blockchain and NFT could be interesting for us

During a recent earnings call, Ferrari CEO Benedetto Vigna stated that the company's future focus will be on the Web3 cosmos.

"To be at the vanguard of digital technologies and Web 3.0, we extend our engagement with cutting-edge technology partners like Amazon Web Services in Wales."

Ferrari is interested in blockchain technologies, Web3, and NFTs, according to the top executive. These could aid the brand's future development and reinforce its position as a market leader, according to Vigna:

"I believe, as we previously stated, it is critical that we examine and assess how new technology might benefit our brand. Without a doubt, digital technologies, such as web 3.0 technologies, Blockchain, and the NFT, are an area that might be fascinating for us, and it merits some consideration."

The CEO admitted that the bitcoin market is rapidly changing. He also mentioned that several of Ferrari's competitors have already dabbled in the digital asset area, implying that "The Prancing Horse" isn't alone.

Ferrari’s NFTs

Mattia Binotto – General Manager and Team Principal of Scuderia Ferrari – described Velas as an entity that "makes innovation and performance the hallmark of technologically advanced products and services".

As part of the agreement, Velas also became Title Sponsor of the Ferrari Esports Series, the mono-brand series of "The Prancing Horse," and the Esports team that will compete in the F1 championship.