McLaren Racing Choses Tezos Blockchain to Tap NFT Market

McLaren Racing Choses Tezos Blockchain to Tap NFT Market
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McLaren Racing, the British motor racing team, has chosen Tezos as its official technical partner to create a non-fungible token (NFT) platform across Formula1, INDYCAR, and esports.

According to an announcement by McLaren Racing on Thursday, June 17th, it will be a multi-year technical partnership in which the organization will leverage the “energy-efficient and upgradeable Tezos network to create a non-fungible token (NFT) platform with fan experience at the heart.”

It will be a dedicated platform that will bring McLaren’s illustrious racing heritage and renowned driver line-ups across its multiple teams for Formula 1, INDYCAR, and esports, to offer an unrivaled NFT fan experience.

Lindsey Eckhouse, director of Licensing, eCommerce, and esports, at McLaren Racing, commented:

“Tezos and McLaren Racing uniting to create a unique fan-focused NFT platform is an innovative step in an exciting and rapidly developing industry. At McLaren, we are known for putting fans at the heart of everything we do, and this is another partnership which allows us to enter a space where fans can own key pieces of our team. We are looking forward to launching the platform with Tezos to create bespoke NFTs with our Formula 1, INDYCAR, and esports teams.”

Per the terms of this partnership, the Tezos brand will be represented on race suits of McLaren F1 drivers Lando Norris and Daniel Riccardo, and Arrow McLaren SP (AMSP) drivers Pato O’Ward and Felix Rosenqvist. Moreover, Tezos will also be a presenting partner of the McLaren Shadow esports team.

McLaren Racing is going to tap the exploding NFT era and has selected the Tezos blockchain network because it believes that Tezos is the most energy-efficient blockchain in the industry.

The topic of energy consumption and the environmental impact of Bitcoin, Ethereum, and other Proof of Work-based blockchain networks has become a popular topic of discussion in recent weeks. Tezos is often praised for its energy efficiency as estimates say that it uses two million times less energy than Proof of Work networks, allowing Tezos to operate cleanly and with a negligible carbon footprint.

Hubertus Thonhauser, Chair of Tezos Foundation, said:

“McLaren Racing has one of the longest and most illustrious legacies in racing, and we are excited that they have chosen to bring it to the Tezos blockchain through their NFT fan engagement platform. The concept of blockchain is evolving, becoming faster, more secure, and more efficient. This requires a blockchain that can keep up with this rapid pace of innovation. As brands everywhere look to engage with their fans in new ways, Tezos, the original and fastest evolving blockchain, remains at the forefront of innovation, providing real-world solutions in a thriving and fast-growing ecosystem.”

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