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Wednesday, August 4, 2021

Red Bull Racing Honda Names Tezos as Its Official Blockchain Partner – Bitcoin News

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The freshly unveiled collaboration between the organizations aims to deliver a unique fan engagement experience for Red Bull Racing Honda in the form of unique digital collectibles that leverage Tezos’ scalable, efficient, and self-upgrading network.

Formula One Team Inks Multi-Year Technical Partnership

As more global brands and industries embrace the blockchain universe through non-fungible tokens, Formula One racing is the latest offline industry to take advantage of this new innovative digital technology to connect with fans.

Red Bull Racing Honda has joined forces with Tezos to leverage the blockchain’s NFT capabilities to improve fan engagement and overall experience. The multi-year tie-up will see Tezos help craft an immersive user experience for Grand Prix fans that the ongoing global pandemic has negatively impacted.

The partnership reflects both organizations’ commitment to ongoing innovation and staying at the leading edge of their respective industries. Moreover, Tezos’ energy-efficient and minimal carbon footprint aligns perfectly with Racing Honda’s own initiatives to become more environmentally friendly.

According to Red Bull Racing Honda CEO Christian Horner,

In Formula One innovation is a constant, with cars evolving and developing from race to race and Tezos is no different. Designed to self-upgrade, Tezos’ ability to remain at the cutting edge of blockchain technology makes it a natural fit for Red Bull Racing Honda.

Tezos Foundation Chair Hubertus Thonhauser adds,

The Tezos blockchain is designed to evolve and adapt, doing so with security and performance in mind and in the most efficient ways possible. These principles are perfectly mirrored in the Red Bull Racing Honda team, and this is why we believe this to be a winning partnership.

NFTs Make Inroads in the Automotive Sector

In addition to major global brands and Formula One flocking to NFTs, automotive innovators are also exploring blockchain’s promise in other areas, specifically personalizing the in-auto experience. Audi-spinoff and startup Holoride, which is developing in-car XR entertainment experiences, is in the process of integrating Elrond blockchain to accomplish just this.

In its bid to attract content creators, passengers, and automakers to its initiative, Holoride seeks to incentivize the ecosystem through the use of NFTs. Content creators will be encouraged to participate and populate content, helping Holoride and Elrond deliver another layer of fairness and transparency to all the relevant stakeholders.

Who do you think will be the next sporting franchise to embrace a blockchain sponsor? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Red Bull Racing Honda, Holoride

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Lena Berryhttps://otcbbstocknews.com
Lena Berry is the executive editor of OTC BB Stock News. Apart from managing the large team of writers, you will find her writing about various topics.
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