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Buongiorno amici —
If you’re reading this newsletter, there’s a good chance you already know what NFT’s and blockchain technology are, and we’ve talked about it here in this letter before, and I will continue to explore the topic, however, sports has the power to introduce these technologies to the world at a much larger scale than anywhere else.
Last March, I was asked to approach the topic of NFT’s as pertains to the world of university-level sports, specifically in the United States. Here’s that letter:
We’ve seen leagues like the NFL sell tickets to games that contained an NFT in the ticketing, however, there was no value outside of being a collectible.
The real opportunity comes when you can take the technologies at your disposal and enhance the fan experience, provide sponsors with better data and find ways to make the sport better.
Enter the Grand Prix de France.
On his LinkedIn page, the Director of Communications for the French GP, Pierre Guyonnet-Dupérat, announced that they would be harnessing the power of NFT’s and the blockchain to enhance the ticketing and fan experience.
Here’s Pierre’s full post:
So we’re going to see a blend of 3D wearables, avatars in virtual worlds, and exclusive benefits to unique collectibles and real-world experience.
I, for one, am not surprised to see one of the European GP’s pushing the envelope when it comes to blockchain tech. We’ve seen many football clubs across Europe embrace the fan token experience and dive in headfirst.
I am slightly surprised we didn’t see the Miami GP jump to this first, as it has become somewhat of a hub for crypto and Crypto.com is the title sponsor.
I don’t want to lead this conversation in any way, I believe that crypto has its place in sports and the globe. While it may not be a perfect solution, it does solve some real challenges while opening up a whole new world of possibilities.
I want to hear your thoughts on this. Comment below with what you’re thinking about when it comes to enhanced fan experience, NFT’s, and blockchain in Formula 1.