McLaren Racing has announced the launch of a non-fungible token (NFT) collection on top of the Tezos (XTZ) blockchain called the “McLaren Racing Collective,” in a move made to engage with Formula 1’s over 87 million fans.
According to a press release shared with CryptoGlobe, Tezos will serve as McLaren Racing’s official location for “numerous opportunities to own a piece of McLaren Racing for the long term.” The first NFTs will allow F1 fans and blockchain enthusiasts to collect different components of the MCL35M 2021 Formula 1 race car.
The first set of components will be gifted to the first 5,000 fans who join the collective platform for free. The first fan who manages to collect all 22 components and assemble the full digital version of the car is set to win a VIP trip to a 2022 Formula 1 grand prix. The NFTs will be released in five stages, with the first four becoming available on Sunday, October 24.
The press release notes this is the first of many campaigns as part of McLaren Racing’s long-term fan engagement strategy. The NFTs are being integrated on enterprise NFT solutions provider Sweet.
Each NFT part of a McLaren race car will have its own rarity, with collectors being able to assemble a total of 35 complete NFT cars. McLaren’s entry into the NFT world sees it join Sweet’s roster of partners which include the National Basketball Association, Burger King, Lil Pump, Pentatonix, and more.
Commenting on the move Lindsey Eckhouse, Director, Licensing, ecommerce and esports at McLaren Racing, said:
The first NFT drop heroes our papaya-liveried MCL35M F1 car, and gives our fans a fantastic opportunity to own their own piece of McLaren Racing, seeing each component from all angles, while also allowing them to win incredible prizes.
McLaren’s NFTs are launching on Tezos because of the blockchain’s energy efficiency and as a way to boost its fan experience, the press release details.
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