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Ferrari has announced a new partnership with Velas Network AG, a Switzerland-based fork of Solana that has an embedded Ethereum virtual machine (EVM), to provide exclusive digital content and be a Title sponsor of the Ferrari Esports Series.

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In addition to being a new sponsor for Ferrari's Ferrari Esports Series, they will become sponsors of the online mono-brand series of the Prancing Horse and the Esports team that will compete in the F1 Esports Series, the official digital online championship that all teams participating in the FIA Formula 1 World Championship compete in.

The General Manager and Team Principal of Scuderia Ferrari, Mattia Binotto, said that the team is pleased to begin the collaboration and that the values of Velas and the team unite them.

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"We are pleased to start this collaboration with Velas Network AG, a company that makes innovation and performance the hallmark of technologically advanced products and services: these are all values that unite us and that led us to choose Velas as one of our Premium Partner," said Binotto.

Farhad Shagulyamov, the CEO co-founder of Velas Network AG, added his comments saying that their company has created the next generation of blockchain and that the company's partnership with Ferrari was a natural one.

“Having built a next-generation blockchain that puts the emphasis both on sustainability and performance, it was natural to partner with another icon of excellence, which is Ferrari. Velas has introduced an innovative variety of pioneering technology into the blockchain and associated products, which will now be showcased at the pinnacle of motorsport,” said Shagulyamov.