Red Bull Joins the Race for Formula One NFTs

Perennial F1 championship contenders Red Bull Racing has partnered with Tezos blockchain to introduce a new series of NFT collectibles.

Following in the footsteps of fellow F1 heavyweights Aston Martin, Red Bull is the second racing team to join the NFT revolution. As such, they are part of a growing list of sports organisations and celebrities aiming to capitalise on the vast potential of NFTs.

Going all the way back to 1868, sports collectibles have been a way for fans to interact with their favourite teams. And, as technology evolves, it seems the collectible industry evolves with it. Now, in the era of the NFTs, sports collectibles are becoming digital.

The last one year saw the arrival of the NBA Top Shot and Sorare fantasy football league. Both of which have been hugely successful, and seeing millions of dollars in trading volume in 2021 alone. In addition, many of Europe’s biggest and brightest football teams have also launched NFT collections.

Tezos energy-efficient proof-of-stake blockchain provides an eco-friendly alternative to the gas-guzzling Ethereum. This, in turn provides a suitable match for Red Bull’s carbon neutral ambitions.

>> With no sign of the NFTs arriving just yet, keep tabs on the Twitter feed for more info >> Here

Image credit: via XTZ News

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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