American Formula 1 manufacturer Haas F1 Team has announced a collaboration with non-fungible token (NFT) marketplace Opensea. As part of the agreement, a collection of non-fungible tokens will be produced for Haas and the Opensea logo will appear on its cars.
Opensea to help U.S. Formula 1 team launch MNF collection
Opensea, the peer-to-peer market leader for non-fungible tokens, will create an NFT collection for Haas F1. The collaboration was announced Thursday by Haas, the only U.S.-owned team competing in the FIA Formula One World Championship. In a press release on its website, Haas F1 said:
As Haas F1 Team’s “Official NFT Marketplace Partner,” Opensea will work with the team and outside collaborators to produce a branded NFT collection.
The initiative is aimed at increasing fan engagement, the race team said. “NFTs have the incredible power to unlock new experiences and give us a canvas to bring people together around the things they love in new ways” added Shiva Rajaraman, vice president of product at Opensea.
The executive noted that the crypto-currency company is looking forward to launching innovative collections with Haas F1 and providing new opportunities for their dedicated fan community to get closer to the action.
Also as part of the agreement, the Opensea logo will appear on the VF-22 cars, which were designed and built by the Haas F1 Team to compete in the 2022 Formula 1 World Championship.
“We have been waiting to find the right partner in the NFT space and we found exactly that with Opensea“, said Haas F1 team manager Guenther Steiner.
“We know we will be in good hands because Opensea is not only in touch with all the key players, but it is also an industry leader that puts innovation at the forefront of everything it does” added Steiner, commenting on Haas F1’s first steps into the NFT space.
Collaboration between the crypto-currency industry and the popular racing sport has gained popularity in recent years. In the summer of 2021, Formula 1 entered into a multi-million dollar crypto sponsorship deal with Crypto.com, and in early 2022, Red Bull Racing partnered with crypto exchange Bybit. In mid-October, F1 filed eight trademark applications covering a range of crypto, NFT and metaverse products and services in the United States.