McLaren Racing has selected Tezos, a Luxembourg-based open source blockchain protocol for assets and applications, as the team’s official blockchain partner in a new multi-year technical partnership for Formula 1, INDYCAR and eSports.
McLaren will leverage the energy efficient and upgradeable Tezos network to create a non-fungible token (NFT) platform that is centered around the fan experience.
Earlier this month, Red Bull Racing Honda entered into a similar partnership with Tezos.
McLaren will build a dedicated platform bringing its racing heritage and prestigious driver lineups to its various teams to deliver an NFT fan experience.
For Tezos and McLaren, sustainability through innovation is key. The introduction of clean NFTs and energy efficient networks ensures that the effects of this new medium in spreading creative expression are not offset by unnecessarily high energy consumption.
In contrast to traditional proof-of-work blockchains, Tezos’ proof-of-stake mechanism is said to be a significantly more energy-efficient approach to securing its network and use two million times less energy than proof-of-work networks like Bitcoin and Ethereum .
This enables Tezos to operate cleanly with minimal energy consumption and a negligible carbon footprint.
As part of the partnership, the Tezos brand will be represented in the McLaren Formula 1 and Arrow McLaren SP teams, including on the racing suits of McLaren F1 drivers Lando Norris and Daniel Riccardo and AMSP drivers Pato O’Ward and Felix Rosenqvist.
Lindsey Eckhouse
Lindsey Eckhouse, Director, Licensing, Ecommerce and Esports, McLaren Racing said:
“The merger of Tezos and McLaren Racing to create a unique, fan-centric NFT platform is an innovative step in an exciting and rapidly evolving industry.
At McLaren we are known for putting the fans at the center of everything we do, and this is another partnership that allows us to enter a space where fans can own key elements of our team. “
Hubertus Thonhauser
Hubertus Thonhauser, Chairman of the Tezos Foundation, said:
“McLaren Racing has one of the longest and most famous legacies in Formula 1 racing and we are delighted that they have decided to bring it to the Tezos blockchain through their NFT fan engagement platform.
The concept of blockchain is evolving, becoming faster, safer and more efficient. This requires a blockchain that can keep pace with this rapid pace of innovation. “
Featured Image: Photo by Wes Tindel on Unsplash
