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FTX works with F1 Mercedes team to release NFTs

The Formula One Miami Grand Prix is happening this coming weekend, and the event will feature F1 Ethereum non-fungible tokens (NFTs). During this event, the FTX cryptocurrency exchange has announced it will partner with the F1 Team Mercedes to release a wide range of NFTs available in premium and free-to-claim formats.

F1 team works alongside FTX

It was revealed that the F1 Team Mercedes-AMG Petronas was working alongside the FTX exchange to release rare and selected NFT collectibles. The two will work together during the Miami Grand Prix and a wide range of other racing events happening during the season.

FTX has also added that it will work with Formula One to ensure that the fans of the two parties will enjoy the grand launch of 1000 limited edition free-to-claim NFT ticket stubs. These tickets will be available to everyone who wants to be part of the NFT launch during the Miami Grand Prix and other racing events planned for the year.

Popular events with a wide range of activities will be equipped with up to 2500 free NFT Ticket stubs. The free stub NFT collectibles will have a rare and special design created to excite fans. FTX is also looking into other ways to attract more use cases for the NFT owned by stub holders.

Mad Dog Jones as part of the F1 NFT craze

The racing events that will feature FTX and the F1 team will also be done in partnership with Mad Dog Jones. Mad Dog Jones is a respected and popular artist and will be tasked with releasing more than 10 special limited editions of Ethereum NFT art pieces. These artworks will be available for auction.

Two of the artworks created by Mad Dog Jones will come together with a physical rear wing endplate of the Mercedes cars driven by the two leading Mercedes players, George Russel and Lewis Hamilton.

Lou Frangella, the VP of Partnerships at FTX, said that the vision of the F1 Ethereum NFT launch taking place in Miami was to bring culture, art and Formula One together during the major event.

This move marks yet another partnership that FTX has secured with a leading player in the sports sector. Given the magnitude of the Miami Grand Prix event, the partnership could see FTX promote itself to a global audience.

NFT auction slated for May 6

Bids for the F1 NFT event will commence on May 6. The start of practice for the Miami Grand Prix will also happen on the same date. The auction for these NFTs will be open until May 13. Moreover, FTX and Formula One will be hosting a physical NFT gallery to allow guests to view and be part of the artworks in their physical form.

The proceeds from the sale of these NFTs will go towards Ignite. The latter is an initiative created alongside Lewis Hamilton’s Mission44 Foundation to support inclusion and diversity.

Ali Raza

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