Perfume And Merchandise: Formula One Trademark Filing Creates Way For F1 NFTs

Formula One (F1) might introduce nonfungible tokens (NFTs), digital collectibles and crypto payment support ahead of the inaugural Las Vegas Grand Prix in 2023. F1’s trademark department registered two new trademark filings with the United States Patent and Trademark Office on August 23.

Their filings outline the trademark and logo for the Las Vegas Strip Circuit together with a wide-ranging list of goods and services that the event wants to offer in next year’s race. F1 filed the trademark and listed crypto and NFTs in various possible goods and services on offer.

Of specific interest were the particular mentions of crypto and NFT-related offerings and blockchain-powered transactional services. The filing notes NFTs that will represent ownership of a huge variety of real-world items, like decorative items, vehicle equipment, bags, clothing, wallets, and ‘perfumery.’

The filing also noted:

“Downloadable computer software for managing cryptocurrency transactions using blockchain technology, potentially suggesting that the race and its organizers are gearing up to support cryptocurrency payments.”

That is also shown by another clause that describes financial goods and services covering the width of crypto and blockchain-based payment networks:

“Financial services including e-wallets and cryptocurrency; electronic transfer of crypto assets; currency exchange services; currency trading; virtual currency services; electronic funds transfer provided via blockchain technology; financial transactions via blockchain; cryptocurrency services, namely, providing a digital currency or digital token for use via a global computer network; provision of tokens; provision of non-fungible tokens.”

The provision of cryptography software is also available, with both filings listing downloadable software for processing crypto transactions using blockchain technology.

Reporters have contacted the Formula One trademark department to get extensive details of the filing for the Las Vegas Grand Prix. They also want to determine whether the huge list of goods and services indicates a confirmation of intent for crypto and NFT offerings.

Formula One has been a huge advertising platform for different crypto exchanges over the last several years. Notably, Crypto.com’s branding has been prominently visible on F1 track advertising boards globally for the last year after becoming a global partner of the roadshow.

As previously stated, many exchanges and crypto companies sponsor F1 teams, with eight of the ten teams backed by industry participants.

The Sin City is scheduled to host its first-ever Formula One race after the much-loved motorsport group confirmed in March 2022 that Las Vegas would become the newest addition to the race calendar in 2023.

This leaves a little more than a year until the first race is hosted on the Las Vegas Strip in a night race will undoubtedly become the third stop in the US for the F1 roadshow next November.