F1 registers NFTs and cryptocurrencies trademarks for Las Vegas race

The Formula 1 will offer virtual goods and cryptocurrency services during the next year event.

USPTO licensed trademark attorney Mike Kondoudis revealed that Formula 1 has applied for two trademarks related to NFTs and cryptocurrencies for the Las Vegas Grand Prix event next season.

Formula One has filed 2 trademarks for LAS VEGAS STRIP CIRCUIT claiming plans for:
▶️NFTs
▶️Cryptocurrency
▶️Insurance + financial services
▶️Virtual clothing + sports gear
▶️Currency trading + Virtual currency services
...and more!#NFTs #Metaverse #Crypto #Web3 #F1 #LasVegas pic.twitter.com/AfMj6R19TW

— Mike Kondoudis (@KondoudisLaw) August 29, 2022

According to the disclosed trademark filing, during next year’s race F1 intends to provide a selection of virtual gadgets – including sporting equipment, virtual clothes, headphones, lanyards, souvenirs, keyrings, digital art, jewellery, sculptures, and other items - that can be used in games or the metaverse, along with cryptocurrency and blockchain-based payment systems and services.

Las Vegas is set to stage its first-ever Formula 1 Grand Prix hosting a night-time race on the iconic Las Vegas strip, scheduled for November 18, 2023. The event will become the third stop in the United States for the F1 roadshow along with Austin and Miami.

Most F1 teams have endorsements and sponsorships in the blockchain and crypto space, including Binance, Bybit, Fantom, FTX, Crypto.com, Tezos and others.