McLaren Racing signs Tezos as blockchain and NFT partner 🚨 This article is 3 years old...
McLaren Racing signs Tezos as blockchain and NFT partner
McLaren Racing announces new multi-year technical partnership to build NFT fan experience platform on energy-efficient blockchain network Tezos.
2 min read
Updated: Jun. 17, 2021 at 12:10 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
McLaren Racing has selected Tezos to become the team’s Official Blockchain Partner in a new multi-year technical partnership across Formula 1, INDYCAR, and esports, it said in a release shared with CryptoSlate.
McLaren will use the energy-efficient and upgradeable Tezos network to create a non-fungible token (NFT) platform with a fan experience at the heart.
NFTs on Tezos
Tezos, an open-source blockchain for assets and applications, is a continuously evolving blockchain that upgrades itself through efficient on-chain governance.
McLaren will build a dedicated platform that brings its illustrious racing heritage and renowned driver line-ups across its multiple teams to offer an unrivaled NFT fan experience.
For Tezos and McLaren, sustainability through innovation is key. Embracing clean NFTs and energy-efficient networks ensures that the impact of this new medium to share creative expression is not offset by unnecessarily high energy consumption.
Unlike traditional Proof of Work blockchains, Tezos’s pioneering Proof of Stake mechanism is a significantly more energy-efficient approach to securing its network, using two million times less energy than Proof of Work networks like Bitcoin and Ethereum.
This allows Tezos to operate cleanly, with minimal energy consumption and a negligible carbon footprint.
Teams to feature Tezos branding
As part of the partnership, the Tezos brand will be represented across the McLaren Formula 1 and Arrow McLaren SP teams, including on the race suits of McLaren F1 drivers Lando Norris and Daniel Riccardo, and AMSP drivers Pato O’Ward and Felix Rosenqvist.
“Tezos and McLaren Racing uniting to create a unique fan-focused NFT platform is an innovative step in an exciting and rapidly developing industry,” said Lindsey Eckhouse, Director, Licensing, eCommerce and esports, McLaren Racing.
She added the new partnership allows McLaren to enter a space where fans can own key pieces of the team and that the company looks forward to launching the platform with Tezos to create bespoke NFTs with our Formula 1, INDYCAR, and esports teams.
Meanwhile, Hubertus Thonhauser, Chair, Tezos Foundation, said in a statement:
“McLaren Racing has one of the longest and most illustrious legacies in Formula 1 racing, and we are excited that they have chosen to bring it to the Tezos blockchain through their NFT fan engagement platform.”
He added, “The concept of blockchain is evolving, becoming faster, more secure, and more efficient. This requires a blockchain that can keep up with this rapid pace of innovation. As brands everywhere look to engage with their fans in new ways, Tezos, the original and fastest evolving blockchain, remains at the forefront of innovation, providing real-world solutions in a thriving and fast-growing ecosystem.”
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Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth.
