Blockchain company Velas Network AG will issue NFT tokens for the automaker
Velas token price has risen by 24% and exceeded $ 0.41 after the announcement that blockchain company Velas Network AG has become a partner of the Scuderia Ferrari team of the Formula 1 championship. The company will partner with the racing team to release NFT tokens and other digital collectibles.
At 14:55 Moscow time on December 28, the Velas token is trading at $ 0.35, and its capitalization is $ 794 million, according to CoinGecko. Over the week, altcoin has risen in price by 72%.
Velas Network AG will also act as the title sponsor of the virtual Ferrari Esports Series and the automaker’s esports team that will compete in the F1 Esports Series.
Crypto.com, a cryptocurrency exchange service, signed a sponsorship deal with British sports car maker Aston Martin in March. In 2021, the company returned to Formula 1 after a 61-year hiatus. Its cars bear the logos of the crypto exchanger.