Formula One Plans to Release NFTs Ahead of a 50-lap Grand Prix

 Formula One Will Sell Virtual Goods

According to the filings, Formula One intends to sell virtual goods, including digital art, jewellery, sculptures, headphones, lanyards, keychains, souvenirs, and sporting goods. Additionally, it plans to provide services for trading in fiat currencies, virtual currencies, and carbon offsets.

The street race will happen right in the middle of Las Vegas. It will include a section of the neon-lit strip surrounded by posh casino hotels, eateries, and a variety of entertainment. Formula One purchased a 39-acre plot of land in "Sin City" in May to construct the pit and paddock complex.

McLaren Formula 1 team Collaborated With Tezos

British racing team McLaren and blockchain initiative Tezos partnered in June last year. The Tezos DLT platform and the McLaren Racing Formula 1 team have established a strategic tech partnership. To give its supporters the most pleasing NFT experience possible, McLaren intends to build a platform for non-fungible tokens. To give its supporters the most pleasing NFT experience possible, McLaren intends to build a platform for non-fungible tokens.

Tezos will be represented by the McLaren team, the Arrow McLaren SP squad, and appear on the race suits of the best McLaren racers due to its current partnership with McLaren Racing. McLaren is the second-most successful Formula One team, having competed in fewer races than the Ferrari squad.