I am an avid follower of Formula 1 and bunch of other motorsports. So you know I've been following how motorsport has been progressing in the NFT space! Motorsports fans have long been in the collectible space. I myself own a few collectible race-cars and over 30 autographed driver cards ranging from rookie DTM drivers to Formula E team principles and loads in between. Don't think lightly of racing as a market for NFTs, Formula 1 was the fastest-growing major sports league on the planet in terms of follower growth in 2021. Reaching 49.1m total followers and have seen the highest engagement rate with social posts compared to other major sports in 2021. We out here!
This blog will keep you up to date on all the happenings in the Motorsport Metaverse. Where the NFTs are being listed. Which Crypto tokens are supporting the teams and even when drops happen! You're gonna get it ALL on this blog pr in the comments so have your notifications ON!
PARTNERSHIPS IN THE NFT SPACE
As of today, Veve hasn't brought in any sports collectibles at all. However, in previous AMAs we've heard David Yu say that they are coming. What we have seen though, is the rollout of many Automobile manufacturers like GM, Citroen, DS Automobiles and Aston Martin. I think the last two are the most interesting in terms of future potential. For instance, DS Automobiles has a very successful Formula E team while Aston Martin have, as of last year, acquired a Formula 1 team. That's a big deal. What's even bigger is that Aston Martin dropped the most expensive Veve collectible TO DATE. If that isn't bullish then I don't know what is.
Apart from the James Bond collaboration with Veve, Aston Martin Racing currently releases NFTs on the Crypto.com NFT platform and the team is also sponsored by Crypto.com ($CRO). The NFTs they drop are both picture/video format and 3D models of parts which can be assembled to create a finished car, a light form of gamification I suppose. They were the first F1 team to independently appear on the scene, right alongside Snoop Dogg's drop on the same platform.
This part-based concept is very similar to the way McLaren F1 Racing has been releasing their own NFTs on Sweet.io which is the NFT platform powered by Tezos ($XTZ). They also do drops in the form of 3D models which could be assembled once the set is complete. Another member of the Sweet.io NFT family is Red Bull Racing, who have released very few NFTs, the coolest of which is a complete RB16b with a Japanese livery that retailed for $300 USD on the drop. I personally own a Sergio Perez race suit NFT, I love that thing.
NASCAR has partnered with RACEDAY NFT who produce both commemorative tickets (think movie tickets) and Virtual Die-Casts, as they call them. Which is really cool to see, these remind me of the 1:6 cars that we have on Veve, as in they were meant to be virtual versions of a model car, rather than the 1:1 which are full size in AR. I guess this appeals to the die-cast collectors more than the ability to "sit" in the car. If you haven't scaled your 1:1 DeLorean up to full size around you while sitting in a comfy chair...go do it right now, you're missing out!
In terms of motorsport NFT gamification, two of the most prominent players in this segment are F1® Delta Time and MotoGP™ Ignition.
F1 Delta time was creating late 2019 as a partnership of liberty media and Hong-Kong based Animoca Brands. All the teams have agreed to allow their images and sponsors to be used on the platform. The platform uses Revv token. F1 Delta time market was making $100k+ sales as early as 2020. You would think they we're going to the moon! Which they absolutely did gaining thousands of users each month until... about about two weeks ago. When a shocking announcement by the official twitter revealed that they had not secured their license with F1 for another year.
This situation sets Motorsport NFT gaming in an odd position, since we (as VeveFam) know that dependency on IP licensors is also huge to our platform. Hopefully, F1 can re-establish a partnership with another NFT platform, maybe even Veve? Shush.....Let me dream.
MotoGP Ignition is happily skipping along, with more bike packs, riders and items added weekly. I personally have not deep dived into this one. It uses the same Revv token as F1 Delta Time. It's great to see that despite licensor hiccups, the gaming is going along smoothly and the opportunities for the Metaverse are growing quickly in this category.
In my opinion, partnerships with Automobile manufacturers can easily lead to partnership with Race teams for Veve. The AR capabilities of the Veve platform also bring some uniqueness into the space. I would love to see DS Automobiles drop their Formula E car on the app, instead of a road car. Which is HIGHLY possible.
So my Pairology World family, Does motorsport NFTs interest you? or maybe its something that would bring your family or friends into the NFT space?
Do you think the influx of cars and bikes on Veve will grow now that GM, Aston and Triumph are here?
Let's rev it out in the comments!
First big update! (13/04/2022)
Team Penske which currently runs in the Indy 500 have just announced a partnership with Autograph.io. This is the first motorsports team to team up with this NFT platform. Definitely something to watch. Will provide more info as I learn more
Edited by BanditL33t