The freshly unveiled collaboration between the organizations aims to deliver a unique fan engagement experience for Red Bull Racing Honda in the form of unique digital collectibles that leverage Tezos’ scalable, efficient, and self-upgrading network.
Formula One Team Inks Multi-Year Technical Partnership
As more global brands and industries embrace the blockchain universe through non-fungible tokens, Formula One racing is the latest offline industry to take advantage of this new innovative digital technology to connect with fans.
Red Bull Racing Honda has joined forces with Tezos to leverage the blockchain’s NFT capabilities to improve fan engagement and overall experience. The multi-year tie-up will see Tezos help craft an immersive user experience for Grand Prix fans that the ongoing global pandemic has negatively impacted.
The partnership reflects both organizations’ commitment to ongoing innovation and staying at the leading edge of their respective industries. Moreover, Tezos’ energy-efficient and minimal carbon footprint aligns perfectly with Racing Honda’s own initiatives to become more environmentally friendly.
According to Red Bull Racing Honda CEO Christian Horner,
Tezos Foundation Chair Hubertus Thonhauser adds,
NFTs Make Inroads in the Automotive Sector
In addition to major global brands and Formula One flocking to NFTs, automotive innovators are also exploring blockchain’s promise in other areas, specifically personalizing the in-auto experience. Audi-spinoff and startup Holoride, which is developing in-car XR entertainment experiences, is in the process of integrating Elrond blockchain to accomplish just this.
In its bid to attract content creators, passengers, and automakers to its initiative, Holoride seeks to incentivize the ecosystem through the use of NFTs. Content creators will be encouraged to participate and populate content, helping Holoride and Elrond deliver another layer of fairness and transparency to all the relevant stakeholders.