The Red Bull Racing Collectibles series was first announced a few days ago. Cheko’s RB16B racing car is the latest non-fungible token to be added to Red Bull Racing Honda’s first ever collectible NFT experiment.
This collection is part of a partnership with Tezos. It is dedicated to the 2021 Mexican Grand Prix and star racer Sergio “Checo” Perez. In addition to RB16B, the collection includes other themed tokens related to the 2021 Mexican Grand Prix: Cheko’s suit and helmet, as well as the outfit of Red Bull racer Max Verstappen.
The emergence of NFT in Formula 1 racing
Red Bull initially announced Tezos as its official blockchain partner back in May, with a multi-year agreement that will see the companies work together to create the first ever Red Bull NFT for fans. As part of the agreement, the company also added Tezos branding to its official logos.
This is not the first Formula 1 team to launch its own NFTs, McLaren has also partnered with Tezos. The McLaren Racing Collective allows fans to assemble the components of the 2021 Formula 1 MCL35M car.
Both NFT collections from Red Bull and McLaren are available through the Sweet NFT platform, which only added support for Tezos last month.
Launched in 2018, Tezos is an open source blockchain that can be used to build applications using smart contracts and is an alternative to Ethereum.
The company launched support for NFT on its blockchain platform relatively recently, and although its use pales in comparison to Ethereum, it quickly took its rightful place. This is partly due to partnerships with well-known brands such as McLaren and Red Bull.