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A few months ago, Italian car manufacturer Ferrari announced a deal with Velas Network to offer fans of the brand a range of digital products, including non-fungible tokens (NFTs). The company also became the main sponsor of the Ferrari E-Sports Series team.

This ended up drawing the market’s attention to the solutions offered by the blockchain.

“After we signed the deal with Ferrari, we have greatly increased interest in partnerships from other companies and projects. Many of these projects are looking for support from Velas Network to help them to be part of the NFT market and to develop applications in the metaverse”, said Shirly Valge, the company’s chief operating officer (COO), in an interview with PanoramaCrypto.

According to her, one of the company’s focuses today is to seek support and partnerships with other major sports companies. Check out the details.

Could you tell us more about the Velas Network project and its purpose?

Velas Network is a technology company headquartered in Crypto Valley in Zug, Switzerland. It was founded in 2019 by crypto entrepreneurs Alex Alexandrov and Farkhad Shagulyamov, who started developing their code from scratch but eventually concluded that it is much more efficient to take existing frameworks and improve them.

For this reason, we chose Solana as the basis for Velas to build the fastest blockchain faster and extend its capabilities by integrating the Ethereum Virtual Machine. In doing so, we inherited the best of both solutions: high TPS, 1-second finality, and EVM/Solidity support.

The company recently partnered with Ferrari. So what is the relationship between Velas’ technology and the Italian car manufacturer?

velas network ferrari

Photo by: Velas Motorsport Twitter

We can say that it’s a multi-layered partnership. First, we are a premium sponsor of the Ferrari F1 team and partner with their e-sports team. This is very interesting because it provides additional exposure for Velas.

Ferrari’s vehicles and merchandise have helped accelerate Velas in terms of branding and awareness. There are many vectors we are exploring with Ferrari, including NFTs and different variations of using Velas blockchain for development processes and the Ferrari supply chain.

Since we signed the deal with Ferrari, we have significantly increased interest in partnerships with other companies and projects. Many of these projects are seeking support from Velas to help them be part of the NFT market and develop applications in the metaverse. This is something we are actively exploring, developing real uses for NFTs. The tokens will be created to be used in games, e-sports, in the metaverse, bringing engagement and experiences to fans worldwide.

What is the company’s vision for the future of DeFi?

DeFi is one of the key revolutionary areas that is reshaping the future of the financial system by eliminating unnecessary bureaucracy and harmful business practices. DeFi projects will increasingly capture users’ attention because of the accessibility and transparency that the technology offers at its core.

What’s different about Velas?

Velas is the fastest EVM chain with infrastructure services such as known block explorers, Oracle solutions, asset bridges, and many other great applications initially built for Ethereum. In addition, the blockchain is also supported by Metamask.

The Velas EVM is built into every node and is 100% compatible with Ethereum APIs.

Developers can quickly deploy existing EVM-based projects or launch new ones on Solidity, with high-speed and low commissions.

Our unique features, such as high throughput, fast finality, and low transaction fees, put us in an excellent position. As we gain more adoption, we plan to start competing with centralized services and cloud platforms.

In addition, the Velas team follows all Ethereum updates and implements them to keep the blockchain up to date.

Could you comment on the solutions Velas offers to its users?

We can define Velas as an ecosystem of decentralized products that allows anyone to feel the benefits of blockchain technology.

Velas Account provides its password-less authentication system, which enables users to securely access various services using only their account while introducing unique authorization quotas to minimize risks.

We also have Velas Vault, where users have access to decentralized services by delegating the security of their passwords, keys, or seeds phrases (encrypted codes for password recovery) to segmentation algorithms and validators focused on data security.

In addition, there is the Velas Wallet, which is a secure app that allows you to manage multiple crypto assets, with staking functionality, and BitOrbit, a next-generation decentralized social media platform where users can maintain their freedom of speech, generate income from their content, and use an embedded wallet to store and exchange assets.