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NFT News: FTX and Mercedes-AMG Petronas F1 Team Partner to Launch NFT Collection

Jeff Pratt breaks down crypto exchange platform FTX teaming up with the Mercedes-AMG Petronas F1 Team to launch a unique NFT collection.

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FTX and Mercedes-AMG Petronas F1 Team Partner to Launch NFT Collection

The Mercedes-AMG Petronas F1 Team is teaming up with FTX to produce an NFT series to engage with their fans, according to an official press release from the cryptocurrency exchange platform.

According to the announcement, the F1 team will be collaborating with a variety of artists throughout the 2022 race calendar.

The initial NFTs that will be released are free-to-claim “Ticket Stubs” collectibles. These will feature artwork depicting race tickets. Fans will be able to build a virtual collection of these stubs, and can trade them with other F1 enthusiasts.

The companies will also produce rare NFTs that will be sold via auction throughout the year. This campaign will kick off at the 2022 F1 Miami race weekend, during which collectibles featuring the artwork of Mad Dog Jones will be unveiled and auctioned exclusively on the FTX US NFT marketplace. Mercedes’ proceeds from these sales will be donated to Ignite, the Team’s and Mission44’s joint charitable initiative.

“Finding new and innovative ways to engage with our global fanbase is a key priority for the team,” said Mercedes-AMG Petronas F1 Team Commercial Director Richard Sanders.

This is just the latest metaverse venture for FTX, who most notably purchased the naming rights to the Miami Heat’s arena last year. Depending on the success of the series, this could be the start of an NFT surge in F1.

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