certify
Home arrow Article arrow Article Detail

Formula One registers for two trademarks related to NFTs and cryptocurrency

Profile Image

Indrani bose Follow

INDIA

Aug, 31 2022

Aug, 31 2022

likes | comments 0

Article Image

For the Las Vegas Grand Prix, which is anticipated to take place in November 2023, racing leader Formula One has registered two trademarks pertaining to non-fungible tokens and digital currency.  


According to the filings, Formula One intends to sell virtual goods in form of digital art, including jewelry, sculptures, headphones, lanyards, keychains, souvenirs, and sporting goods. Additionally, it plans to provide services for trading in fiat currencies, virtual currencies, and carbon offsets. 


On August 23 the organization submitted two trademark applications to the United States Patent and Trademark Office USPTO. The filing was announced by registered trademark attorney Michael Kondoudis in a tweet on August 29. It outlines the trademark and logo for the Las Vegas Strip Circuit. It will also cover NFTs, cryptocurrencies, insurance, and financial services, virtual clothes and sports equipment, currency trading, and virtual currency services, among others that the event intends to offer during next year’s race. 


Additionally, as part of the filing, downloadable computer software for managing cryptocurrency transactions using blockchain technology is also mentioned. This may suggest the race and its organizers are planning to accept cryptocurrency payments. 


It will include a section of the neon-lit strip, which is surrounded by posh casino hotels, eateries, and a variety of entertainment. According to reports, the track is 3.8 miles long and has a top speed of 212 mph. Formula One purchased a 39-acre plot of land in "Sin City" in May in order to construct the pit and paddock complex.  


After the well-known motorsport organization announced in March 2022 that Las Vegas would be the newest addition to the race calendar in 2023, Sin City is ready to host its first-ever Formula One event. 


Due to strict local advertising laws, numerous Formula 1 teams had to remove cryptocurrency-related branding during the French Grand Prix in July. In late April, the F1 team Mercedes-AMG Petronas and the cryptocurrency leader FTX together unveiled an NFT initiative, with certain collectibles including a piece of an actual F1 car. 


About Formula One :

Over the past few years, Formula One has served as a significant advertising platform for numerous cryptocurrency exchanges. Since joining the roadshow as a global partner, Crypto.com's branding has been prominently displayed on F1 track advertising boards all around the world. Eight of the ten F1 teams are supported by companies in the bitcoin industry, as has been previously reported. 

 

 


likes | comments 0

Profile Image

Indrani bose

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
WMG team up with OpenSea to expand Web3 opportunities 

WMG?team up?with OpenSea?to expand?Web3 opportunities for artists. This platform will enable artists to?build and extend their fanbase in the Web3 community. The nonfungible token (NFT) marketplace..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.