Formula One (F1) keeps making progress in the areas of non-fungible tokens (NFTs) and the metaverse. It has already filed trademarks in these areas in preparation for the Las Vegas Grand Prix circuit, which will take place in November 2023.
The filing was made on October 5 with the United States Patent and Trademark Office (USPTO). On October 10, NFT and metaverse licensed trademark attorney Michael Kondoudis tweeted about it.
According to Michael Kondoudis, trademark applications include licenses for cryptocurrencies, NFTs and cryptocurrency markets, retail stores for virtual goods, blockchain financial transactions, cryptocurrency trading, mixed reality environments, and cryptocurrency mining.
It should be mentioned that Formula 1 teams have an existing partnership with entities related to cryptocurrencies. In particular, some teams like Red Bull, McLaren or Mercedes have sponsors from the cryptocurrency sector.