Formula One might be the latest addition to the list of NFTs. In fact, the NFT market has seen a sharp growth in recent times. Many notable personalities like Snoop Dogg and Anthony Hopkins have come up with their own NFT collections. Therefore, these big names have attracted more audiences toward NFT. There are also rumours to suggest that some more big names might come up with their brand of NFT collectables. As a result of this, the general interest and popularity centring NFT has been on a rise.
To add to this popular interest, Formula One might be joining the NFT market. Certain indicators suggest that ahead of the brand new Las Vegas Grand Prix in 2023, Formula One could launch digital collectables, NFTs and cryptocurrency payment support. This is great news for all admirers of the car racing brand. If you wish to know more about the upcoming F1 NFTs, then this article is the perfect stop for you.
Keep reading this article to know about the latest exciting news of F1 racing.
Formula One: The Real News
On the 23rd of August the trademark department of Formula One submitted new trademark filings to the United States Patent and Trademark Office. The filings contain details about the logo and trademark of the upcoming Las Vegas Grand Prix in 2023. In addition to these, the filings also contain details about the various services and goods that the franchise plans to offer during the event.
However, not all content of the list has gained equal importance. The limelight is on the multiple mentions of NFT and cryptocurrency-related offerings, along with blockchain-powered transactional services. The filings particularly mention the NFTs, which will include various real-life items like clothing, wallets, bags, vehicle equipment, perfume and decorative items.
In addition to all these, there are also mentions of computer software using blockchain technology for the management of cryptocurrency transactions, in the filings. This might be seen as an indication that Formula One is moving towards accepting crypto payments during the upcoming events. There are also provisions for cryptography software.
However, F1’s relation to the crypto world is not new. Over the past few years, F1 events have been leading advertisers of different crypto exchanges. In fact, Crypto.com has been one of the most prominent presences on the advertising boards in the past year, on F1 events. In fact, it also became the global partner of Formula One.
If really Formula One comes up with its own NFT collectables and crypto payment options, then that will a big thing. It will definitely boost the crypto market and will add to the popularity of NFTs. The filings are complete. Therefore, now it remains to be seen when F1 steps into the NFT market. In fact, this is already hit news among the admires of Formula One.