Red Bull Racing Honda has started working with the energy-efficient Tezos blockchain, making it its official blockchain partner. The Formula 1 racing team has announced a new partnership as o aimed for many years to come.
The joint venture aims to develop the first ever Non-interchangeable Tokens (NFT) for Red Bull Racing Honda fans.
When choosing a partner, the Red Bull Racing Honda team was guided by the energy efficiency of the Tezos blockchain, whose technical characteristics and performance are ideal for working together.
Tezos is an open source blockchain for assets and applications. In addition, it offers the function of performing P2P transactions. The platform is supported by researchers, validators, and developers around the world.
Under the terms of the deal, Red Bull Racing Honda will present the first NFT collection on the Tezos blockchain. The team aims to offer a “new, unique and exciting experience” of interacting with fans.
Red Bull Racing Honda Team CEO Christian Horner commented on the collaboration with Tezos:
“Tezos is capable of self-improvement, which allows it to stay at the cutting edge of blockchain technology, so its partnership with Red Bull Racing Honda is completely natural.”
“It is important to note that the energy-efficient design of the grid is also in line with our long-term environmental ambitions, and as Formula 1 moves towards achieving carbon neutrality, the minimum network impact methodology pioneered by Tezos will be a valuable asset.”
The chairman of the Tezos Foundation, Hubertus Tonhauser, in turn, said that the blockchain network is ready to accept Red Bull Racing Honda into its ” fast-growing ecosystem of NFT platforms for creating brands.”
Tonhauser added that the two companies share similar principles of development and adaptation in terms of security and performance.
Since the beginning of the year, several celebrities have made their debut in the NFT space, which has contributed to the expansion of the market. The NFT sector also includes sports teams, digital artists, and musicians.
Last month, rapper Eminem launched his animated NFT, one of which contains the original beat. Other music artists joining the NFT boom include Snoop Dogg, The White Stripes, and Aphex Twin.