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Red Bull Racing holds NFT auction in Monaco for a digital Playseat
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Red Bull Racing holds NFT auction in Monaco for a digital Playseat

27 May - 09:19 Last update: 10:07
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GPblog.com

Red Bull Racing are holding an auction for an NFT collection over the weekend of the Monaco Grand Prix. A special one-off Monaco-edition Playseat simulator rig will be on display, and seeing some racing action with drivers and Red Bull Athletes during the race weekend. The highest bidder receives both a digital version of the one-off seat for their memorabilia collection and rights to claim the actual one-off Playseat from the Monaco Energy Station.

NFTs, or non-fungible tokens, are making inroads into Formula 1. The linkage on a blockchain that comes with a unique digital item should bring more attention to cryptocurrency. Red Bull Racing has partnered with Bybit and Tezos and is presenting an auction for it in Monaco.

NFT in F1

Fans of Red Bull Racing can bid on the NFT and the highest bidder will receive a digital edition of the special Monaco edition of the Playseat. That person will also get to crawl into the simulator located on the paddock at Red Bull Racing during the Monaco Grand Prix.

"Each limited-edition piece showcases a moment in time for the Team in stunning detail and they are designed to immerse fans in our world, in our quest for victory and in great moments from the Team’s history. It’s therefore fitting that we are launching the latest collection here in Monaco. Thanks to our cutting-edge partnerships with Bybit and Tezos, pioneers in the exciting digital asset space, we can bring limited edition pieces of future F1 heritage to our fans around the world in an immersive, accessible and affordable way,” said Christian Horner in Red Bull's press release.

The auction opened Thursday, May 26, at 6:00 a.m. UK time and you can still bid until May 31, 11:59 p.m. The bidding can be done on the NFT Marketplace of Bybit.

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