Formula One Files Trademarks for NFTs and Crypto | Crypto

Formula One Files Trademarks for NFTs and Crypto

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

-The filings indicate that 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.

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

-The Las Vegas Grand Prix track is expected to be 3.8 miles long, with top speeds reaching a whopping 212 mph.

-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.

-In July, several Formula 1 teams were forced to remove cryptocurrency-related branding during the French Grand Prix due to stringent local adverting regulations.

-F1 team Mercedes-AMG Petronas and crypto giant FTX announced a joint NFT project in late April, with some collectibles coming with a piece of an actual F1 car.

40424267863 Formula One Files Trademarks for NFTs and Crypto

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