NFT's And Formula One

in LeoFinance2 months ago


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Crypto is popping up everywhere today as it is slowly appearing in the public eye. I am sure the majority of race fans will have no clue what Tezos is and will take a while to sink in that it is a crypto.

I was just catching up on the Formula One practice sessions from today when a Red Bull flashed past on the screen and spotted something brand new. Tezos was what was new and I know this as I have some which I bought a month or so ago. Not really a name you just recognize unless you trade or a holder of that token.

Tezos is a pioneering and energy efficient open-source blockchain for assets and applications that, similar to Formula One, is constantly evolving with the very latest industry advancements. By design, Tezos uses a more energy efficient approach to secure its network which means it can operate cleanly, with minimal energy consumption and a negligible carbon footprint.
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What I find funny is how everyone is carefully selecting their words now about how eco friendly and efficient their block chains are. A month ago no one gave a rats arse about it and ever since rocket man complained about Bitcoin people are being more selective in what they say. A Formula One team with fuel flowing through their veins talking about reducing carbon emissions is a bit ironic. I know they have to think greener today but as a company they have added their fair share of carbon over the years.

Tezos or as we know it by XTZ is going to help launch RED Bull Formula One NFT's this year in a multi year partnership. The RED Bull team has loads of fans and taking advantage of NFT's could be a smart move. I must admit I am still trying to work out what they are and where the value is. I get the digital art aspect but not really the crazy numbers people pay. Could it just be a fad as I would only invest if the NFT was more concrete like a building lol. I wouldn't mind if there was a formula One Team that was a portion of an NFT as the sport is highly profitable since budget caps came in last season.

We saw a few months ago crypto.com joined forces with the Aston Martin Formula One team and that made real sense to me. Aston Martin is a big brand that is looked at as high end and crypto.com aligning with that would only boost the number of accounts they will open.

I can see crypto being advertised on every single team at some point as that is where the future is heading. I think it tells us how decentralized these projects really aren't as in both cases the articles refer to them as cryptocurrency companies. Can you imagine Hive trying to get on a Formula One car as I suppose we would all have to vote and not up to one individual unless they were shit rich and were covering the costs themselves.

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I think it's pretty awesome that sports etc are getting into NFTs it's driving huge demand to those platforms. For example Wax grew in popularity with the introduction of Topps. Huge amount of potential still from these partnership in terms of exposure and revenue generation for that blockchain.

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That is pretty cool! Makes me glad to know that I started picking up some Tezos back when I did. I love the staking rewards that I get from it, but if they move into a partnership like this, it could be a really great hodl for me.

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