Source: PlanetF1

McLaren Racing to build NFT platform on energy-efficient Tezos blockchain

After announcing earlier this year that they would be partnering with Turkish crypto firm Bitci to create an official fan token on Bitci blockchain platform, Mclaren Racing have now partnered with Tezos to construct a NFT platform that will showcase McLaren’s “illustrious racing heritage” and famous drivers. As part of the deal, the race suits of McLaren’s Formula 1 and IndyCar drivers will carry Tezos’ logo.

Significantly, McLaren have decided to use the Proof-of-Stake model that powers the Tezos network over the dramatically more energy intensive Proof-of-Work blockchains. According to their website, “For Tezos and McLaren, sustainability through innovation is key. Embracing clean NFTs and energy-efficient networks ensures that the impact of this new medium to share creative expression is not offset by unnecessarily high energy consumption.”

Others in the automobile industry to become involved in blockchain technology are Red Bull Racing, who have also partnered with Tezos, and Porsche, who have recently launched an NFT trading card platform called ‘Fanzone’.

Focus Market, which will also run on the energy efficient ‘proof of stake’ network, is an NFT platform designed to help photographers large and small monetise their art work and making a healthy profit from it.

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