Ferrari sets a team, but not to drive in Formula E. It wants to explore what it can mean in the metaverse and throws itself into NFTs. It may be great for fans of the racing brand, but it also confirms that Ferrari is not exactly a forerunner in the field of sustainability.
Bloomberg writes that Ferrari has told investors that they have all sorts of plans in the virtual world, including creating NFTs. It’s a big trend right now to get into this: Samsung is going to make TVs that allow you to shop and show NFTs, Adidas has embarked on a major NFT initiative, and YouTube is already working on it .
What exactly Ferrari wants with it is still unknown. You probably make a lot of money as NFTs are ways of selling digital art. We can imagine that Ferrari will make virtual cars because Ferrari already exists in different games.
For example, we must be able to have fun in a fun way within the meta-verse and a virtual ride (or competition) in the car can definitely contribute to this. Above all, owning a digital Ferrari could be another way to show how well you are doing. If we are told that ‘real estate’ for half a billion dollars was sold in 2021 at the four most well-known metaverse locations, it is understandable that more and more companies want to do something about it.
Metaverset is likely to be an important and major new way of using the Internet, so it makes sense for companies to be interested in it. Among other things, metavers are created that work on the blockchain. However, that blockchain is certainly not sustainable. As a result, NFTs contribute to the CO2 footprint that we as a human being leave on the world. The cryptocurrencies with which you purchase NFTs are stored in blockchain. For each transaction, all computers on the network must be provided with new information, in addition to hard calculations to make it all possible and keep it secure.
So it’s very twofold: How many artists work with fairly organic materials, they’ll probably have problems with their followers when they take a picture of their artwork and make an NFT out of it. There are also artists who think they can make NFTs CO2 neutral by investing in renewable energy. Then they have to come up with a great deal per NFT. For example, Space Cat, a famous NFT, would have a CO2 footprint as large as the electricity consumption for two months for the average Dutchman.
Back to Ferrari. No matter how much the rules are going to change and that brand is ultimately going to make electric cars, it is also known as the brand that is one of the last car manufacturers to come with electric cars. For example, the first fully electric Ferrari would not be announced until 2025. The brand was not the first with hybrids either: only last year the first hybrid was announced: the 296 GTB.
It also frustrates the Formula E organization for a long time that the ‘red’ brand has still not formed a team for that sport. A shame, because in Formula 1 it is still a brand with a lot of prestige. In addition, there are also Formula 1 teams in Formula E, including Mercedes. Car brands like Porsche and Nissan are also participating in this electric race. Theoretically, it would not be so crazy if the F1 icon Ferrari got involved. However, it has chosen not to do so for years.
Now it puts a team and it is not for the hoped-for Formula-E. That team will probably not work so much on making NFT’s climate neutral, but will primarily sell more within the metaverse. Whether it’s virtual cars, drawings of cars or something completely different: it’s at least something that does not improve the earth as the planet in the first place.
At the same time, we are used to it from cars: Road traffic accounts for no less than 17 percent of CO2 emissions. Something that is not solved by driving electrically, but it drops sharply: An electric car would throughout its lifetime emit 40 percent less than the ‘normal’ variant with exhaust. Would that also apply to the electric Ferrari coming in 2025?
In the end, it remains to be seen what Ferrari exactly plans to do with metaverse and any NFTs. At the moment, it is primarily looking at what it wants with this.
When not writing, she travels around the wonderful world of entertainment or a cool place in the real world. Mario is the man of her life …