Blockchain technology and Formula 1 racing.
Blockchain technology is being used in Formula 1 racing sports in a variety of ways. For example, Formula 1 and Animoca have a blockchain game called F1 Delta Time. Last year, the game developer started auctioning NFTs for official team cars as collectibles. Like Dapper Labs’ NBA Top Shot, F1 Delta Time is licensed by Formula 1 instead of individual teams. In addition, Red Bull Racing F1 team has signed an NFT deal with Tezos¹. Blockchain companies are also getting involved with Formula 1. In January 2022, Fantom Foundation, a layer-one blockchain platform, announced its sponsorship with the Italian Formula 1 racing team. Crypto.com has also become the inaugural global partner of the new Sprint series for 2021, with the first event at Silverstone on Saturday July 17th, at the Formula 1 Pirelli British Grand Prix. The new Sprint format will see the drivers battle it out over 100km on Saturday afternoons of the selected Grand Prix weekends, with the result from the Sprint then deciding