During this year’s U.S. Grand Prix on October 22 in Austin, TX, NFT holders will have a chance to see their digital collectibles racing around the Formula One (F1) track! Williams Racing, in collaboration with crypto exchange Kraken, has invited NFT holders with assets listed on Kraken’s NFT marketplace to submit their tokens for consideration. Let’s take a closer look at how you can see your NFT on the F1 track!
How You Can Have Your NFT On An F1 Car at the Grand Prix!
Seeing your NFT on an IRL product is the dream. Imagine watching your Bored Ape or CryptoPunk zooming around the track! So, a lot of people want to make this their reality. Therefore, the selection process for the NFTs that will be showcased on the race track will be as far as it can be. From August 1 to August 18, NFT holders can submit their tokens for consideration. Then, Williams Racing and Kraken will shortlist the top 20 entries, and from August 28 to 31, the community will vote on the final four NFT choices. Additionally, Williams team drivers Alex Albon and Logan Sargeant will handpick two NFTs to join the lineup.
Lou Frangella, Kraken’s Head of Brand Partnerships, expressed excitement for featuring NFTs on the team cars. Frangella recognizes that these digital collectibles hold different meanings for each owner. Furthermore, Frangella believes that NFTs are an integral part of the cryptocurrency ecosystem and represent ownership and engaged communities.
The partnership between Kraken and Williams Racing began earlier this year. This marks a groundbreaking collaboration between the crypto exchange and an F1 team. Moreover, the partnership aims to bring F1 fans and crypto enthusiasts together, fostering understanding and adoption of cryptocurrencies and the Web3 movement.
Other F1 x Web3 Partnerships
This isn’t the first time that an F1 team has recognized the importance of NFTs and crypto. For example, Red Bull Racing partnered with crypto exchange Bybit in a deal worth $150 million. Additionally, the Sui blockchain entered into a multi-year agreement with Red Bull Racing to provide Web3 experiences to its fanbase. Furthermore, during the Monaco Grand Prix in May, F1 ticket provider Platinum Group introduced NFT tickets. These tickets offer access to the race and also future ticket discounts.
So, as the F1 world embraces crypto and NFTs, these partnerships are pushing the boundaries of innovation and fan engagement. The partnerships highlight the growing intersection between the world of motorsports and the rapidly evolving crypto ecosystem.
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