Formula One Announces Cryptocurrency Plans 

Formula One Reveals NFT and Crypto Plans

Formula One has filed trademark applications for NFTs, cryptocurrencies and several other web3 related products.

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Formula One filed two NFT and crypto related trademarks for its Las Vegas Grand Prix event.

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F1 plans to offer virtual goods including sporting equipment, virtual clothing, headphones, and digital art.

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According to the trademark filing, the racing giant is also planning to offer crypto exchange services, currency trading, virtual currency services as well as carbon offsets.

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Almost every Formula 1 team has an official sponsor in the blockchain and crypto space this year.

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Later last year, blockchain firm Velas Network AG announced to sponsor Ferrari in F1

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Crypto exchange FTX is also involved in F1 as a Mercedes sponsor.

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