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Formula One Files Trademarks Related to NFTs and Crypto

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Alex Dovbnya

Formula One plans to release NFTs ahead of a 50-lap Grand Prix in Las Vegas that will take place November 2023

Racing behemoth Formula One has filed two trademarks related to non-fungible tokens and crypto for the Las Vegas Grand Prix event, which is expected to take place in November 2023.

As per the filings, Formula One plans to offer virtual goods in the form of sporting equipment, virtual clothing, headphones, lanyards, souvenirs, keyrings, digital art, jewelry, sculptures, and other items.

It also intends to offer cryptocurrency exchange services, currency trading, virtual currency services as well as carbon offsets.

The street-based race will take place in the very center of Las Vegas. It will incorporate a stretch of the neon-soaked strip, which is lined with upscale casino hotels, restaurants, and a slew of attractions.

In May, Formula One acquired a 39-acre site in the center of “Sin City” in order to build the pit and paddock complex.

Last June, British motor racing team McLaren formed a partnership with blockchain project Tezos.

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