Merch and perfume: Formula One trademark filing paves the way for F1 NFTs

cointelegraph.com:

Formula One could introduce nonfungible tokens (NFTs), digital collectibles and cryptocurrency 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. The filings outline the trademark and logo for the Las Vegas Strip Circuit and a wide-ranging list of goods and services that the event intends to offer during next year’s race.

Of particular interest were specific mentions of NFT and cryptocurrency-related offerings as well as blockchain-powered transactional services. The filing notes NFTs that will represent ownership of a wide variety of real-world items, including vehicle equipment, decorative items, clothing, bags, wallets and even "perfumery."

The filing also notes "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.

This is further illustrated by another clause describing financial goods and services covering the breadth of cryptocurrency and blockchain-based payment systems:

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

Cointelegraph has reached out to the Formula One trademark department to ascertain the finer details of the filing for the Las Vegas Grand Prix and whether the extensive list of goods and services signal confirmation of intent for NFT and cryptocurrency offerings.

Related: Uncertainty around French laws prompted F1 racers to remove crypto branding: Report

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