Red Bull has long been a big name in F1 racing, but now they’re making a mark in the NFT world too. They’ve entered into a multi-year technical partnership with Tezos, an energy-efficient blockchain, to launch a series of NFT collectibles.
For as long as Red Bull have been involved in F1, they’ve been pushing the envelope with cutting edge ideas. This new collaboration takes that to the next level. They aim to engage fans who have had less access to racing due to coronavirus restrictions.
Red Bull sought out a greener NFT
One of the things that drew Red Bull to Tezos was the blockchain’s energy efficiency. Tezos’s environmental impact meshed well with Red Bull’s drive toward carbon neutrality. And since Tezos is built to be upgraded, today’s standards are just the beginning.
“In Formula One innovation is a constant, with cars evolving and developing from race to race and Tezos is no different,” said Christian Horner, Team Principal and CEO of Red Bull Racing Honda. He praised Tezos for its “low-impact methodology” and for the kinds of experiences it would provide to fans.
Formula One competition growing
Red Bull isn’t the first F1 team to get into the NFT slipstream. Aston Martin engineered a drop of their own in March, featuring their Cognizant F1 Team in a series of limited-edition tokens. As more companies discover the possibilities of the NFT space, it’s likely other players will emerge.
And as with great innovators like Sorare are proving, this is just the start of the race, with plenty more track to come.
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As always, make your own research prior to making any kind of investment.
