Ferrari aims to incroporate the metaverse in its business model

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Ferrari has signed a multi-year agreement with Velas Network, a Swiss blockchain startup, to build the brand in the metaverse. Ferrari’s Maranello racing team will receive exclusive digital memorabilia from Velas. Furthermore, Ferrari has created a new department dedicated to digital technology as a means of retail expansion.

Since 2009, these two games have been dubbed the next generation web interface (Web 3.0). Although nothing significant has transpired with them recently. That is, until the Bitcoin craze swept the nation; When Bitcoin, Ethereum, and other cryptocurrencies like Bloktopia made it possible for brands like Adidas, Nike, and Pepsi to get in on the rush.


These for-profit companies aren’t into supporting a new method of communicating or interacting. But rather in having their products available in the metaverse, a so-called decentralized virtual environment.

That’s why even erstwhile computer gurus are getting into the cryptocurrency game. They are already there and ready to get their fair portion of the pie if this proves to be a success.

The experiment began with non-fungible tokens (NFTs), which are essentially just digital images or animations offered on various marketplaces. You pay to have them written into your own weird line of code. The unusually high prices that some of these NFTs have commanded have drew a lot of attention.

Lamborghini, on the other hand, has joined the hype. The Italian firm began its maiden offer on the NFT just a few days ago.

Ferrari CEO Benedetto Vigna promised the company’s owners and investors late last year that they would not be left out of the technological breakthrough, according to Binance, which is the world’s largest cryptocurrency market and brokerage platform.


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