Formula 1 Files NFT & Crypto Web3 Trademarks For 2023 Las Vegas Street Circuit Race | Includes Financial Services & Virtual Goods

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Formula One has filed cryptocurrency, NFT and metaverse trademark applications for the Las Vegas strip circuit night race to be held in November 2023

Formula 1, the highest level of racing in motorsports, filed two trademarks related to non-fungible tokens (NFTs) and cryptocurrencies for the Las Vegas Grand Prix event, which is scheduled for November 2023.

This is not Formula 1’s first venture with the digital asset sector. One of the leading crypto exchanges – CryptoCom – served as its Global Partner, while other platforms, including FTX, have inked agreements with some of the top teams. Go to F1 Teams Blockchain Partners for a complete list of team cryptocurrency sponsors, NFTs and Fan Tokens.

  • As per the filing revealed by Mike Kondoudis, Formula 1 intends to offer virtual goods, including virtual clothing, sports gear, headphones, souvenirs, jewelry, digital art, and more.
  • Offering currency trading, cryptocurrency exchange services, and carbon offset are also on the agenda.
  • The initiative is planned to go live ahead of the Las Vegas Grand Prix in November next year.
  • The race will be one of the few events to be held during the night. The cars will pass through the strip, the very center of the renowned resort city, while the lack of sharp turns will allow drivers to reach a maximum speed of over 212 mph (340 km/h).
  • Formula 1 has already established a relationship with the crypto world. In June last year, the popular digital asset exchange – CryptoCom – became the Global Partner and Inaugural Partner of Formula One’s new Sprint series for 2021.
  • Earlier this year, both parties inked another agreement, turning the trading venue into the Official Title Partner of the Miami Grand Prix.
  • FTX and Bybit have also partnered with Formula 1. The former collaborated with the Mercedes team to feature its logo on its cars, while the latter did the same with the Red Bull racing squad.

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