Formula 1 really dives into NFTs, cryptos and the metaverse

Many institutions are gradually integrating into the crypto sector. It’s no longer a surprise. Formula 1, which is launching into the digital world, is still not a surprise. But when Formula One files eight trademark applications covering cryptocurrencies and the metaverse, that’s a big surprise!

On October 5, Formula 1 filed eight trademark applications with the United States Patent and Trademark Office (USPTO). These trademarks cover many digital products. Among others, cryptocurrencies, non-fungible tokens (NFT) and the metaverse.

As the world moves at high speed, Formula One is determined not to jump on the bandwagon. Mike Kondoudis, a USPTO-certified trademark attorney, Express in a tweet. According to the latter’s statements, the applications were filed by Formula One Licensing BV, a Dutch company of the Formula One group.

The latter claims ownership related to Formula 1 and the F1 logo. The serial numbers of these brands are: 97620208, 97620234, 97620226, 97620218, 97620213, 97620210, 97620223 and 97620220. Note that Formula 1 is the biggest annual sporting event in the world. Indeed, the latter takes place on five continents and in 22 countries.

According to its website, the event has more than 500 million passionate fans around the world who support the builders and riders. Formula 1 has already collaborated with crypto exchanges. In June last year, Crypto.com became the first global sponsor of Formula 1’s Sprint Series. The deal is expected to continue this year as well. However, the period does not seem to be favorable for the exchange.

South Florida Motorsports (SFM), a Formula 1 affiliate has announcement in February Crypto.com as the main partner of the Formula 1 Grand Prix in Miami. But Ad Age said last week that the bear market has been tough on the exchange. Indeed, he thinks that the reduction in his workforce and his marketing offers could affect his plans.

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