McLaren Racing has announced the launch of a non-fungible token (NFT) collection on top of the Tezos (XTZ) blockchain called the \u201cMcLaren Racing Collective,\u201d in a move made to engage with Formula 1\u2019s over 87 million fans.<\/p>\n
According to a press release shared with CryptoGlobe, Tezos will serve as McLaren Racing\u2019s official location for \u201cnumerous opportunities to own a piece of McLaren Racing for the long term.\u201d The first NFTs will allow F1 fans and blockchain enthusiasts to collect different components of the MCL35M 2021 Formula 1 race car.<\/p>\n
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.<\/p>\n
The press release notes this is the first of many campaigns as part of McLaren Racing\u2019s long-term fan engagement strategy. The NFTs are being integrated on enterprise NFT solutions provider Sweet.<\/p>\n
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\u2019s entry into the NFT world sees it join Sweet\u2019s roster of partners which include the National Basketball Association, Burger King, Lil Pump, Pentatonix, and more.<\/p>\n
Commenting on the move Lindsey Eckhouse, Director, Licensing, ecommerce and esports at McLaren Racing, said:<\/p>\n
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.<\/p>\n
McLaren\u2019s NFTs are launching on Tezos because of the blockchain\u2019s energy efficiency and as a way to boost its fan experience, the press release details.<\/p>\n