The cryptocurrency market had a great highlight during that year of 2021: the non-fungible tokens (NFTs).
Many people are still wondering why NFTs can have such great added value to them. The reason is that when you buy one of these tokens you guarantee your right to use them, being the sole owner.
Although many people have access to NFTs and can see them, if you don’t have a digital mark that proves you don’t own it, your access becomes limited. For example, imagine the famous painting of Monalisa. People can go to the Louvre Museum, see the portrait live and take pictures, however, that painting does not belong to any of these people, so access to the work of art is limited to that for visitors. The same is true for NFTs.
We had several of these tokens being sold for million dollar values throughout the year and this niche within cryptocurrencies has already shown great potential, even because several giant companies have entered this world or shown some interest in participating.
Among them, we can mention, for example, Adidas and Nike, which entered the metaverse sector as well.
Another giant that has recently stated that it is interested in the non-fungible token business is Ferrari.
The company’s intention is to create digital products for its fans and, for that, it signed an agreement with the Swiss technology company Velas to make it possible to carry out the elaboration of such products, since we are talking about a company with experience in the production of virtual products and services and is well recognized in the blockchain and NFT industry. The contract is closed to last for a few years.
It is noteworthy that Vela will be a major sponsor of F1 Sport and it was announced on the Ferrari website that it is a Premium partner of the company.
“Scuderia Ferrari is pleased to announce that, starting next season, it will have a new Premium Partner – Velas Network AG. Welcome aboard!”
In addition, Mattia Binotto, general manager and team leader at Ferrari, pronounced enthusiastically about the new partnership.
“It is with great satisfaction that we begin this collaboration with Velas Network AG, a company that makes innovation and performance the hallmark of technologically advanced products and services: they are all values that unite us and that led us to choose Velas as one of the our Premium Partners.”
We have another large company entering the NFTs business still in 2021 and the expectation is that this market will move even larger amounts in 2022.