McLaren further stated that the reasoning for choosing Tezos as its blockchain provider was due to the company’s “energy efficient and upgradeable Tezos network.” McLaren will be looking to create its own series of NFTs that will expand across its entire racing division. This includes Formula One (F1), INDYCAR, as well as esports.
Tezos dominating F1
The partnership is now the second of its kind with an official F1 racing team. Less than a month ago, Tezos announced it was also partnering with popular Red Bull Racing. The Tezos network is now offering NFTs for two of the top teams in the F1 sport.
The multi-year deal will see McLaren Racing build an NFT fan experience platform like no other. Lindsey Eckhouse, Director, Licensing, ecommerce and esports, McLaren Racing, said “Tezos and McLaren Racing uniting to create a unique fan-focused NFT platform is an innovative step in an exciting and rapidly developing industry. At McLaren we are known for putting fans at the heart of everything we do, and this is another partnership which allows us to enter a space where fans can own key pieces of our team. We are looking forward to launching the platform with Tezos to create bespoke NFTs with our Formula 1, INDYCAR and esports teams.”
Chair of Tezos Foundation Hubertus Thonhauser also commented on the partnership, saying “McLaren Racing has one of the longest and most illustrious legacies in racing, and we are excited that they have chosen to bring it to the Tezos blockchain through their NFT Fan engagement platform. The concept of blockchain is evolving, becoming faster, more secure, and more efficient. This requires a blockchain that can keep up with this rapid pace of innovation. As brands everywhere look to engage with their fans in new ways, Tezos, the original and fastest evolving blockchain, remains at the forefront of innovation, providing real-world solutions in a thriving and fast growing ecosystem.”
F1 adopting blockchain projects
F1 has seen tremendous growth in the blockchain sector following the recent partnerships with Tezos. 2021 has seen an additional two teams in Aston Martin Racing and Alfa Romeo join the fray.
Both teams recently launched their own fan tokens. Both teams will feature fan tokens on the Socios app, operated by Chiliz, which describes itself as “the world’s leading blockchain fintech provider for sports & entertainment.”