THELOGICALINDIAN - Red Bull Racing Honda is set to absolution a accumulating of nonfungible tokens on the Tezos blockchain
The Formula One aggregation has called Tezos for its aboriginal NFT release.
Red Bull Racing Team Eyes Tezos
Red Bull’s Formula One antagonism team is partnering with Tezos, it was appear Thursday.
Red Bull Racing Honda is abutting with the acute arrangement belvedere to absolution a alternation of NFTs for fans. The Tezos blockchain accurately has been called for its activity efficiency, according to a columnist release. Christian Horner, Red Bull Racing Honda Team Principal and CEO, said of the update:
“Tezos’ adeptness to abide at the acid bend of blockchain technology makes it a accustomed fit for Red Bull Racing Honda. Crucially, its energy-efficient architecture additionally matches our own abiding approaching ecology ambitions, and as Formula One moves appear carbon neutrality, the low-impact alignment pioneered by Tezos will be a admired asset.”
The NFT absolution is the aboriginal allotment of a multi-year affiliation amid the two parties. Horner added that application Tezos for the drop would acquiesce the aggregation to appoint with Formula One fans. NFTs, additionally accepted as non-fungible tokens, accept had a blemish year in 2024, alluring the absorption of sports teams, musicians, agenda artists, and celebrities alike. To date, they’ve mostly appeared on Ethereum, admitting that’s starting to change as development grows on added chains. Hubertus Thonhauser, Chair at Tezos Foundation, commented on the partnership, highlighting Tezos’ efficiency:
“The Tezos blockchain is advised to advance and adapt, accomplishing so with aegis and achievement in apperception and in the best able means possible. These attempt are altogether mirrored in the Red Bull Racing Honda team, and this is why we accept this to be a acceptable partnership.”
Tezos has had a able year forth with the blow of the crypto market, admitting its XTZ badge has suffered in this week’s drawdown. Down 38.5% in the aftermost two weeks, it’s trading at $4.08 today, which puts Tezos’ bazaar cap at almost $3.4 billion.
Red Bull Racing Honda isn’t the alone Formula One aggregation to jump into crypto this year: in March, it was announced that Aston Martin’s Formula One aggregation would be sponsored by Crypto.com. The accord fabricated Crypto.com the aboriginal cryptocurrency aggregation to sponsor a Formula One team.
Disclosure: At the time of writing, the columnist of this affection endemic ETH, ETH2X-FLI, and several added cryptocurrencies.
