World-renowned racing organization Formula 1 has filed new trademark applications for NFT and cryptocurrencies.
The organization aims to be more active in the cryptocurrency sector.
Formula 1 Will Be More Active In The Crypto Industry
According to one of the filings, the organization plans to release software for the use of cryptocurrencies, digital collectibles and NFT. This software will also provide support for cryptocurrency payments.
Another filing includes retail store services related to virtual goods. Formula 1 plans to create an online marketplace for cryptocurrencies.
The organization also plans to delve into cryptocurrency mining as it plans to facilitate financial transactions with the help of blockchain.
F1 can also provide entertainment services using products such as NFT in online virtual worlds.
Formula 1 has also filed a trademark application for NFTs in August for the Las Vegas Grand Prix event scheduled to take place in November 2023.
Last June, British motor racing team McLaren announced that it has partnered with the Tezos blockchain.
Alfa Romeo has also started collaborating with the famous meme token Floki Inu.
In April, another F1 team, Mercedes-AMG Petronas, joined forces with cryptocurrency exchange FTX.
