Ferrari CEO Benedetto Vigna sees the blockchain and NFT industry as a "niche to watch". As such, the executive hinted that the luxury sports car maker may continue its cryptocurrency business in the future.

"Blockchain and NFT could be interesting for us"

In a recent earnings call outlining fourth quarter 2021 results, Ferrari CEO Benedetto Vigna asserted that the company will focus on the Web3 space going forward.

“We have strengthened our relationships with leading technology partners, such as Amazon Web Services Wales, to be at the forefront of digital technology and Web 3.0.”

The executive added that blockchain technology, Web3 and NFT are areas of interest to Ferrari. Vigna noted that these could help the brand in its future development and consolidate its position as a leading company in the field.

“I think it’s important, as we said, that we watch and understand how new technologies can help our brands. To be sure, their use of blockchain and NFT’s digital, Web 3.0 technologies is an interesting area for us to watch.”

The CEO acknowledged that the cryptocurrency industry has been growing rapidly. He also outlined that some of Ferrari's competitors have ventured into the digital asset space, which means that Leapfrog should do so to catch up with its competitors.

Benedetto Vigna, source: New MobilityFerrari's NFT

The Italian sports car manufacturer took its first steps in the world of cryptocurrencies at the end of 2021. At that time, it partnered with Swiss tech company Velas Network AG to create irreplaceable tokens for its fans.

The digital collection will go on sale in March 2022, at the start of the next Formula 1 season.

Mattia Binotto, General Manager and Team Leader of Ferrari, describes Velas as an entity that "makes innovation and performance a hallmark of technologically advanced products and services".

Farhad Shagulyamov, CEO of the Swiss organization, said the partnership with Ferrari was a natural move because the Italian brand is "a symbol of excellence.

As part of the agreement, Villars is also the title sponsor of the Ferrari e-sports series, the single brand "Leapfrog" series and the e-sports team that will compete in the Formula 1 championship.

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