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Red Bull, the automobile company that has risen to the top of the Formula One standings, has concluded its first sale of non-fungible tokens. Under the RB16B brand, the American corporation, which has long supported the sport, created one-of-a-kind items based on pilots like Sergio Pérez, alias “Checo.”

According to press releases, the NFT auction, dubbed the Red Bull Racing Collection, would solely feature the driver’s piece as part of its trial. However, because this NFTs piece was a success, the business will probably develop the following collection.

Red Bull is attempting to get into the NFT market

Since the announcement that the Red Bull brand will enter the NFT market, numerous worries have arisen in fans’ minds. Finally, the brand cleared up any lingering questions, such as the treasures from its inaugural virtual auction.

According to the releases, the brand partnered with Tezos, a startup promoting cryptocurrencies and other virtual companies like NFTs, to develop a one-of-a-kind collection based on formula 1. This collaboration enabled the creation of a collection inspired by this year’s car show in Mexico. The collection is inspired by Sergio Pérez, a Mexican Formula One racer known to legions of followers as “Checo.”

The virtual representation of the pilot’s helmet and the outfit he wore to fly is one of the most iconic elements in the collection. However, the collection also includes one-of-a-kind items from the Mexico event. According to the agency that auctioned the items, the photographs of the pilot’s helmet were immediately sold out when the sale was launched. Similarly, certain NFT items were raffled out to the fans.

Auctions for Formula 1 and non-fungible tokens

Because of the success of the NFT auction in Formula 1, Tezos has become one of the most competitive blockchain partners. As a result, Tezos and Red Bull formed an almost instantaneous collaboration, and they’ve been working together since May 2021.

However, when displaying their NFT collection a few days ago, both businesses came to an understanding.

However, because the McLaren corporation had an auction last month, Red Bull’s NFT collection does not correlate to the first one tied to Formula 1. Instead, under the designation MCL35M, the firm showcased their one-of-a-kind McLaren Racing collection, which comprised numerous automobiles from the year.

Sweet NFT, a non-fungible trading platform working with Tezos since October, uploaded both non-fungible auctions. Other F1-related sports businesses are anticipated to join this wave of NFT auctions, expanding the virtual category.

Fans of high-speed racing and NFT lovers have been drawn to these auctions. In addition, brands are likely to utilize the money they’ve saved to launch new non-fungible ventures in the last weeks of the year.

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