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Blockchain technology is coming to Formula 1™ as Pierre Gasly partners with Fantom to bring NFTs to the world’s fastest sport
Non Fungible Tokens (NFT) have taken the world by storm in 2021. The previously maligned sector of the cryptocurrency market which was known for clogging the Ethereum network with CryptoKitty’s has emerged as the fastest-growing subset of the crypto market with billions of dollars in transactions happening monthly.
Slow transaction speeds coupled with unpredictable and high transaction fees have rendered the Ethereum network all but inaccessible to the average user and highlighted the strengths of newer smart contract platforms. Among these next-generation protocols, Fantom stands out for its 1-second transaction times and consistent, low to no cost transactions.
Fantom’s capabilities have not gone unnoticed by the wider crypto community, and popular NFT projects like Pumpkittens have embraced the user-friendly network with much success.
The ecosystem has also caught the eye and garnered the respect of well-known influencers and sports personalities including Grand Prix-winning Formula 1™ driver Pierre Gasly, who recently announced a partnership with Fantom to offer fans the chance to purchase NFTs tied to physical assets that commemorate the highlights of Gasly’s career.
As the world’s fastest-moving sport, Formula 1™ has entertained and thrilled fans for decades but is usually enjoyed on television screens that don’t offer the same excitement that going to a race in person and meeting popular drivers firsthand offers dedicated followers.
Now, thanks to blockchain technology and the power of smart contracts, fans have a new way to show their love for Formula 1™ and hold a piece of rare history while also entering for a chance to meet their favorite driver in person.
This groundbreaking partnership makes Gasly the first Formula 1™ driver to release NFTs for fans. The sale is set to go live on Wednesday, October 20th with the auction of three unique, 1-of-1 NFTs that represent each time Pierre stepped onto an F1 podium.
Each of these NFTs will be redeemable for both unique physical objects and real-life experiences, including the chance for a VIP experience with Pierre during race weekend.
There will also be an additional fourth NFT that is composed of 350 separate tokenized pieces available for purchase beginning at 2 pm UTC on Friday, October 22 that also link with special edition merchandise.
Fans who are interested in these limited edition items can access them on the Artion NFT marketplace, where users can use wFTM to make bids on all four pieces while the Fantom-based tokens ZOO and TOMB can also be used to purchase individual pieces of the fourth NFT. All auctions will close at 2 pm UTC on Saturday 23rd October 2021.
With 80 Formula 1™ Grand Prix races under his belt, the 25-year-old from Rouen, France is uniquely positioned to help introduce the world of NFTs and blockchain technologies to Formula 1™ fans.
According to Gasly, who is a well-known crypto and NFT enthusiast, “We’ve been planning this NFT drop together with Fantom for quite some time now, but as often with innovative projects, our initial excitement hides the level of complexity behind it.”
With the finished product now on the starting line and ready for its public debut, both Formula 1™ fans and the Fantom network are about to kick fan interaction and engagement into high gear.
via NewsBTC