McLaren Racing has announced a multi-year technical partnership with Tezos (XTZ) in order to build an “NFT fan experience platform” on an “energy-efficient blockchain network.”

According to the official press release, McLaren Racing has selected Tezos, which it called “the world’s most advanced blockchain” to become the team’s Official Technical Partner across Formula 1, INDYCAR, and esports. McLaren intends to use the Tezos network in order to create an NFT platform with “fan experience at the heart.”

One of the main reasons for choosing Tezos is that its Proof-of-Stake (PoS) consensus mechanism is a lot more energy-efficient than the Proof-of-Work (PoW) consensus mechanism used by Bitcoin and Ethereum.

Lindsey Eckhouse, Director of Licensing (ecommerce and esports) at McLaren Racing, had this to say:

Tezos and McLaren Racing uniting to create a unique fan-focused NFT platform is an innovative step in an exciting and rapidly developing industry. At McLaren we are known for putting fans at the heart of everything we do, and this is another partnership which allows us to enter a space where fans can own key pieces of our team. We are looking forward to launching the platform with Tezos to create bespoke NFTs with our Formula 1, INDYCAR and esports teams.

And Hubertus Thonhauser, Chair of Tezos Foundation, stated: 

The concept of blockchain is evolving, becoming faster, more secure, and more efficient. This requires a blockchain that can keep up with this rapid pace of innovation. As brands everywhere look to engage with their fans in new ways, Tezos, the original and fastest evolving blockchain, remains at the forefront of innovation, providing real-world solutions in a thriving and fast growing ecosystem.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Photo by “MonacoCannes” via Pixabay