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US-licensed Formula 1 constructor Haas F1 Team has announced a partnership with non-fungible token (NFT) marketplace Opensea. As part of the deal, a collection of NFTs will be produced for Haas while Opensea’s logo will appear on the cars.
Leading peer-to-peer marketplace for non-fungible tokens Opensea will create an NFT pool for Haas F1. The partnership was announced on Thursday by Haas, the only American-owned team competing in the FIA Formula One World Championship. In a press release on its website, Haas F1 said:
As the ‘Official NFT Marketplace Partner’ of the Haas F1 Team, Opensea will work with the team and external partners to produce a collection of branded NFTs.
The initiative aims to increase fan engagement, the racing team said. “NFTs have the incredible power to unlock new experiences and give us a canvas to bring people together around the things they love in new ways,” added Opensea Vice President of Product Shiva Rajaraman.
The executive emphasized that the crypto company is looking forward to launching innovative collections with Haas F1 and providing new opportunities for its community of dedicated fans to get closer to the action.
Also under the deal, the Opensea logo will appear on the VF-22 cars, which were designed and engineered by the Haas F1 Team to compete in the 2022 Formula 1 World Championship.
“We have been waiting to find the right partner in the NFT space and in Opensea we have found just that,” said Haas F1 team principal Guenther Steiner.
“To be mentored by Opensea on our collections and fan engagement opportunities, we know we will be in good hands as they are not only connected to all the key players, but they are an industry leader with innovation at the forefront of everything they do,” added Steiner added and commented on Haas F1’s first step into the NFT space.
The collaboration between the crypto industry and the popular racing sport has gained more traction in recent years. In the summer of 2021, Formula 1 secured a multi-million dollar crypto sponsorship agreement with Crypto.com, and in early 2022, Red Bull Racing entered into a partnership with the crypto exchange Bybit. In mid-October, F1 filed eight trademark applications covering a variety of crypto, NFT and metaverse products and services in the US
Do you expect more partnerships between crypto companies and Formula 1 teams in the future? Tell us in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons, Haas F1 Team
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