Buy Ferrari Stock After Scuderia-Velas NFT deal?
Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. Most of you out there think you know what a Ferrari (NYSE:) RACE is, but only a few of you actually know what a Ferrari is like. Growing up in Chicago, I think I saw a 360 Spider once downtown and thought I had won the lottery. Nowadays, even entry-level Ferraris like the Roma are going to set you back $300k with a decent spec. I know Ferrari Financial works wonders but most of us are not going to stroke a $4,000 check every month for the privilege of putting 150 miles a month on one. Go a little further up the food chain, and you’re talking three-quarters of a million for something like the SF90.
Who needs a real world Ferrari anyway when you can get the NFT? Non-fungible tokens were all the rage a few months ago. Ferrari, which loves to license its brand to ramp up profits, has partnered up with Swiss blockchain startup Velas Network to bring the next generation of Ferraris to life.
Velas is an open-source blockchain network with its own native token, Velas. Ferrari announced the deal Monday. It is a multi-year agreement with Velas to jointly issue exclusive digital content for Scuderia Ferrari, the racing arm of Ferrari.
This is exciting stuff for Ferrari as the Scuderia looks to be competitive in 2022. As long as the FIA doesn’t decide to change the rules mid-race next year again to hand Max the title, Ferrari should be in the hunt. They could be a big story in the metaverse and allow investors yet another opportunity to profit.
Let’s take a quick look at Zacks.com to see how Ferrari’s numbers have been stacking up.
Every time you share this video, somebody well deserving gets an allocation on a digital version of a Ferrari they’ve always wanted. Subscribe to the YouTube channel, Twitter (NYSE:) @bartosiastics, and check out www.zacks.com/promo for this week’s deal on Finding #1 Stocks for free. With Trending Stocks, I’m Dave Bartosiak.
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