Red Bull Racing announced in the statement that the collaboration is a multi-year strategic relationship with the blockchain technology provider.
Under the partnership, Red Bull Racing Honda fans will have their foremost non-fungible tokens (NFTs) experience. Tezos was chosen as a partner by Red Bull Racing Honda because of it being an energy-efficient blockchain. Tezos’ technical aspects and capability, according to the team, made it ideal for the partnership.
Tezos, an open-source blockchain platform supporting the creation of assets and applications, has the capability of supporting peer-to-peer transactions. Numerous scholars, validators, and designers from around the world have endorsed the network.
Red Bull Racing Honda will debut it’s first-ever series of NFTs on the Tezos blockchain as part of the agreement. As part of its fan interaction platform, the team hopes to have a “fresh, interesting, and immersive experience.”
Christian Horner, principal and CEO of Red Bull Racing Honda Team, said the following regarding the collaboration with Tezos.
“Designed to self-upgrade, Tezos ability to remain at the cutting edge of blockchain technology makes it a natural fit for Red Bull Racing Honda. Crucially, its energy-efficient design also matches our own long-term future environmental ambitions, and as Formula One moves towards carbon neutrality, the low-impact methodology pioneered by Tezos will be a valuable asset.”
In addition, Red Bull Racing Honda said in the announcement that the blockchain network will aid the organization in maximizing fan interaction. Horner shared his delight at the prospect of working with Tezos. In his speech, the CEO expressed his belief in Tezos’ ability to provide fans with an unique adventure. Hubertus Thonhauser, the chairman of the Tezos Foundation, is also ecstatic about the initiative.
The blockchain network’s chair has already confirmed that Red Bull Racing Honda will be welcomed into its “fast-growing community of brand building NFT networks” on its blockchain.
According to Thonhauser, the two organizations have common idea in terms of adapting and evolving security and efficiency. From the start of 2021, the NFT market has been witnessing tremendous growth as number of celebrities has entered the market.
Sports teams, visual artists, and musicians have all entered the NFT market. Eminem, the rapper, released beat-motivated animated NFTs last month.
The rapper’s actual beat is included in the NFT set.
Eminem revealed that comic books collection has been his habit right from childhood, and that launching his NFTs has been memorable experience for him.
Snoop Dogg, The White Stripes, and Aphex Twin are among the other musicians who have jumped the NFT bandwagon.