✍️ 29 August, 2022 – 17:35 👤 Editor: Jakub Motyka
- F1 files a patent application that would allow it to sell NFTs during the race that will take place at the Las Vegas circuit (United States) in November 2023.
- The request mentions NFTs, cryptocurrencies, and financial services.
- It is not the first time that the world of Formula 1 has interested in cryptocurrencies.
The Formula 1 wants to get on the NFT train. The group Formula One Licensing B.V. has been hunted filing a cryptocurrency-related patent application ahead of the 2023 Las Vegas Grand Prix, a 50-lap race that will take place during the month of November next year.
In the patent application for Formula 1 mention is made of NFT, cryptocurrencies, insurance, financial services, digital versions of products and other concepts related to the crypto world. In short, the brand wants to protect the rights of any action related to cryptocurrencies that they carry out during the Las Vegas GP.
Formula 1 Files A Crypto Patent For The 2023 Las Vegas Grand Prix
Analysing in detail what is requested in the patent, it is clear that Formula 1 is interested in selling race-related products in the form of NFTs. There is talk of virtual versions of the pilots’ kit, accessories, souvenirs and other objects that may interest fans of this sport.
For now nothing has been officially communicated in this regard, but the patent application leaves little room for doubt regarding the future plans of Formula 1 with NFTs in particular, and the world of cryptocurrencies in general.
Not The First Time That Formula 1 Has Flirted With NFTs
The truth is that the teams that participate in Formula 1 have a certain advantage over the organizers in everything related to NFT, blockchain and cryptos. Mercedes-AMG Petronas signed last year a long-term deal with cryptocurrency exchange FTX, which has allowed it to offer a collection of NFTs that kicked off at this year’s Miami Grand Prix.
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- formula-1-nft: Pixabay