TL;DR Breakdown
• The brand partnered with Tezos to create its NFT collection.
• Red Bull and McLaren revolutionize the virtual market with their unique auctions.
Recently the automotive group that has gained priority in Formula 1, Red Bull, completed its first auction of Non-fungible tokens. The American company that has always supported the sport offered unique pieces under RB16B based on pilots like Sergio Pérez, alias “Checo.”
According to company announcements, the NFT auction under the name Red Bull Racing Collection will have only the driver’s piece as part of its experiment. But this NFTs piece was a success for the company, so it will probably prepare the next collection.
Red Bull seeks success in the NFT market
Since it was announced that the Red Bull brand would explore in the NFT trade, many doubts have invaded the minds of enthusiasts. But the brand was to solve all the doubts, such as the collectibles of its first virtual auction.
The announcements suggest that the brand joined Tezos, a company that supports cryptocurrencies and all kinds of virtual businesses such as NFTs, to launch a unique collection based on formula 1. This partnership allowed the launch of a collection based on the automotive event in Mexico this year. The collection is based on the Mexican driver Sergio Pérez, known to thousands of Formula 1 fans as “Checo.”
Among the most representative pieces of the collection is the virtual image of the pilot’s helmet and the suit he used to run. However, the collection also displays unique pieces from the event in Mexico. According to the agency that auctioned the pieces, the images of the pilot’s helmet were sold out quickly after its launch. In the same way, some NFT pieces were also raffled for the fans.
Formula 1 and non-fungible token auctions
The NFT auction’s popularity in Formula 1 came to Tezos as one of the most competitive blockchain partners. The partnership between Tezos and Red Bull was almost immediate, and since May 2021, they have been working together. However, a few days ago, both brands reached an agreement when presenting their NFT collection.
But Red Bull’s NFT collection does not correspond to the first one linked to formula 1 because the McLaren company had put up an auction last month. The company displayed its unique McLaren Racing collection that featured various cars of the year under the name MCL35M.
Both non-fungible auctions were posted on Sweet NFT, a non-fungible trading platform working with Tezos since October. It is expected that other sports brands linked to F1 will join this wave of NFT auctions, so the virtual category grows.
These auctions have been very attractive to fans of high-speed racing and NFT enthusiasts. Brands are likely to use the stored money to create new non-fungible projects they launch in the next few weeks before the year is out.
