Mercedes F1 team to launch NFTs on Miami race weekend

The Mercedes-AMG Petronas Formula One team is about to launch the first in a series of non-fungible token (NFT) drops. The team is introducing 11 digital art NFTs featuring Mercedes-AMG Petronas cars, created and designed by the artist Mad Dog Jones.

This event marks their first limited edition NFT artist collaboration.

Three of them will be available for auction exclusively on the FTX platform during the much-anticipated Miami Grand Prix. The event runs from May 6 (alongside the start of practice for the Miami F1 Race Weekend to be held at the Miami International Autodrome) to May 8. The rest of the collection will be made available at a later stage in the season.

It comes as no surprise to hear that non-fungible tokens will be involved during the Grand Prix event held in Miami, due to its rising crypto city status.

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Three NFTs to be bundled with a physical item

Two of them will come with a piece of the actual vehicle it is ‘paired’ with. ‘Forever Dream’ and ‘Sky Rising’, will be bundled with actual Mercedes-AMG Petronas Formula 1 rear wings wrapped in the artwork from the NFT.

The third one, called ‘The intersection (of dreams and reality)’ will be bundled with a full-size F1 replica car, wrapped in the NFT art.

Forever Dream signifies a moment of serenity for Lewis Hamilton’s famous 44 car. The auction winner will also receive the physical rear wing that was on Lewis’s car in Miami. Sky Rising sees a colourful cityscape draped around George Russell’s 63 car. The winner will also receive the rear wing that was on George’s car in Miami. The intersection (of dreams and reality) NFT delves deep into the wildest dreams of what an F1 vehicle could be. As noted above, the winner will also receive a full size 2022 Mercedes-AMG Petronas F1 replica car.

The auction for all three starts on Sunday, May 9 at 10.00 am EDT. The auctions for ‘Forever Dream’ and ‘Sky Rising’ will close on Friday, May 13 at 6.00 pm EDT. The auction of ‘The intersection (of dreams and reality)’ will close on Friday, May 20 at 6.00 pm EDT.

Proceeds from the NFTs to go to charity

The proceeds from the auction will go to the joint charitable initiative called Ignite. The charity was founded by from the Mercedes-AMG Petronas F1 Team and Sir Lewis Hamilton’s foundation, Mission 44. The charity advocates greater diversity and inclusion in motorsport. It also encourages and fosters enthusiasm for motorsport through STEM education.

Other NFT drops from the Mercedes F1 team

‘The Race Collection’ will include free ‘ticket stubs’ collectables for each race. These are artistic interpretations of a Mercedes-AMG Petronas F1 ticket. Most races will have 2,500 free NFTs, but five races will be limited to only 1,000. Since the season has started already, NFTs for past races will be allocated at random on May 6 at 10.00 am EDT. Those who sign up for FTX US and claim the ticket stubs will be able to unlock future perks, including physical items.

Finally, the ‘MDI Racing Garage collection’ will feature eight exclusive NFTs. These will celebrate the hard-working behind-the-scenes team.

“Finding new and innovative ways to engage with our global fanbase is a key priority for the team,” says the Commercial Director of the Mercedes-AMG Petronas F1 Team Richard Sanders. “Collecting memorabilia has always been a huge part of following your favourite sports team and we’re excited to create these genuinely cool digital collectibles that will also unlock new ways for fans to be closer to the Mercedes-AMG Petronas F1 team.”

Where can you find the NFTs?

First off, you must sign up for an account on cryptocurrency exchange FTX, and verify your identity. You will need to have enough funds in the wallet to be able to mint the NFT at the time of the drop. When it is time, visit the FTX collection minting page and click ‘Mint’.

Most of the NFTs will be on the Solana Blockchain, but others will be on the Ethereum Blockchain.

FTX is also hosting a physical art gallery at the actual event in Miami so that spectators can check out the NFT artworks in person.

deVere Group CEO and founder Nigel Green, an F1 enthusiast, said on Instagram: “The financial world is going to be looking at Miami to launch a series of NFTs. Will they be successful? It’s going to be an absolutely incredible weekend.”

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