On August 23, Formula One filled in some trademarks regarding crypto, NFTs, and digital assets.
Giant firms such as Nike and Gucci have previously participated in the Web3 space. Nike released its first NFT sneaker collection in participation with RTFKT Studios, called CryptoKicks Dunk Genesis. Gucci announced a Roblox-based meta-world called Gucci Town.
Formula One wants to follow the same path as many and filed two trademarks for the Las Vegas Grand Prix in November 2023. Michael Kondoudis, a lawyer in Trademarks, tweeted this:
The Formula One industry is not entirely unfamiliar with the Web3 space, as Formula One’s Red Bull and McLaren F1 teams have already established a partnership with Tezos to launch their own NFT collections.