Blockchain technology is coming to Formula 1 as Pierre Gasly partners with Fantom to bring NFTs to the world’s fastest sport.
In 2021, non-profit tokens (NFTs) are already taking the world by storm. The sector of the cryptocurrency market formerly known for CryptoKitty’s clogged ethereum network has become the fastest growing subset of the cryptocurrency market, with billions of dollars of transactions happening every month.
Slow transaction speeds coupled with unpredictably high transaction fees make the ethereum network virtually unusable for the average user and highlight the advantages 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 broader cryptocurrency community, with popular NFT projects like Pumpkittens already embracing the user-friendly network with great success.
The ecosystem has also attracted the attention and earned the respect of well-known influencers and sports personalities, including Grand Prix-winning F1™ driver Pierre Gasly, who recently announced a partnership with Fantom to offer fans the opportunity to purchase NFTs tied to physical assets in honor of Gasly’s career highlights.
As the fastest sport in the world, Formula 1 has been entertaining and exciting fans for decades, but is usually enjoyed on TV screens and doesn’t provide the same excitement for loyal followers as going to a race in person and meeting the popular drivers in person.
Now, thanks to the power of blockchain technology and smart contracts, fans have a new way to express their love for Formula 1 and hold a rare piece of history, while also having the opportunity to meet their favorite drivers in person.
This groundbreaking partnership makes Guthrie the first F1™ driver to release an NFT for fans. The auction, which will begin on Wednesday, October 20, will feature three unique, 1-to-1 NFTs representing each of Pierre’s F1 podium finishes.
Each NFTs can be redeemed for unique physical and real-life experiences, including the chance to experience them with Pierre on race weekends.
There is also a fourth NFT, consisting of 350 individual tokens, available for purchase from 2pm on Friday 22 October, also tied to special edition merchandise.
Fans interested in these limited edition items can acquire them on the Artion NFT Marketplace, where users can bid on all four pieces using wFTM, and Fantom-based tokens ZOO and TOMB can also be used to purchase individual pieces for the fourth NFT. All auctions will end on Saturday, October 23, 2021 at 2:00 PM (UTC).
The 25 year old from Rouen, France, who has excelled in 80 F1™ Grand Prix races, is in a unique position to help introduce the world of NFTs and blockchain technology to F1™ fans.
According to Gasly, a noted cryptocurrency and NFT enthusiast, “We’ve been planning this NFT placement with Fantom for some time, but like innovative projects, our initial excitement hid the complexity behind it.”
With the finished product now on the starting line and ready for its public debut, Formula 1™ fans and the Fantom network alike will bring fan interaction and engagement to a head.