Latest to love NFTs – F1 Motorsports

Ferrari recently stated in an earnings conference that it is monitoring the potential in the NFT industry.

To to Ferrari CEO Benedetto Vigna, “We can certainly be interested in digital technologies, Web 3.0 technologies that use blockchain and NFT.” It merits consideration.”

While Ferrari may take action in the future, several F1 teams have already begun.

Last year’s Brazilian Grand Prix saw Alfa Romeo issue a highly limited edition NFT to its fan token holders, causing a rise in the team’s currency price. Nos NFTs include autographed items.

The Swiss team was one of the first to join the fan token ecosystem, which now includes an NFT option for its most dedicated supporters.

As commercial director Yan Lefort stated, “I am confident that we are experiencing a shift in how sponsorship evolves and how we truly market our platforms as rightsholders.”

“I believe we must be proactive in reaching new audiences, new consumers, etc.

To be honest, I had no idea what we were talking about when we first discussed the fan token and the deal with Socios.

“I’m no expert.” I knew nothing. The sport, or even our team, has to be here now to prepare for the future.”

It is not the only brand launching NFTs. Sweet, an American NFT platform, has begun producing Red Bull-branded digital collectable 3D models of helmets, overalls, automobiles, and cards.

It also launched a McLaren Racing Collective where fans may buy specific digital components to create their own whole vehicle if they desire.

Like Panini Football albums or baseball cards, NFTs are becoming a rite of passage for the new generation.

Mizzone is sure that NFTs will eventually enjoy the same popularity as baseball and football memorabilia, if not more so, due to their superior functionality.

“I think we’re doing okay,” he remarked. “My attic is full of 1980s baseball cards. I adore them but can’t show them off.

“You can put your things in a virtual trophy case and share it with the public and friends, and you can add a small tale like, ‘I was at this F1 race and I got this collective and it’s one of 500 with a low sequence number’. Owning this item has a perceived value.