Ferrari may not renew its contract with NFT service provider Velas, and the official website of its F1 team has removed related information

ChainCatcher news, according to grandprix, Ferrari may not renew its contract with NFT service provider Velas. Currently, the official website of its F1 team Scuderia Ferrari has removed information related to Velas. There are reports that Velas has also been affected by the FTX bankruptcy. Ferrari team principal Mattia Binotto stated at the end of the Brazilian Grand Prix that they will be very attentive and cautious about what is happening in the crypto industry, and will therefore "reassess the partnership with Velas, as the future is hard to predict, but so far everything has been stable."

Previously reported, Ferrari reached a partnership with Velas in 2021, which created exclusive digital content and digital collectibles for Ferrari fans. (source link)