Direct from the desk of Dane Williams.
Surely I wasn’t the only one shocked to see the sponsorships of Tezos in F1 last weekend.
I sat down on Sunday afternoon with my cup of coffee, flicked on the race and was greeted by an in-car camera angle featuring the Tezos logo.
I mean come on, Tezos?!
Of all the projects in the top 100, that would certainly not have been top of my list to appear as a sponsor on a Formula 1 car.
But with only 3 of the 23 F1 Grand Prix in 2023 down, Tezos is bound to get a lot more airtime from their McLaren deal.
As such, let’s take a deeper look.
Who is Tezos?
So, who exactly is Tezos (XTZ)?
It's a fair question, considering that they're not exactly a household name like some of the other crypto sponsors you might see in F1.
Well, Tezos is a relatively new player in the blockchain space, having only been launched in 2018.
Their goal is to offer a more efficient, secure and flexible platform for building decentralised applications or executing smart contracts.
But what makes Tezos stand out from other blockchain platforms?
Well, for starters, they're a layer-1 blockchain designed to evolve and adapt to the needs of their users.
In other words, they're not just a one-size-fits-all solution.
One of the key components of the Tezos platform is that they wanted to build a blockchain that could upgrade without requiring disruptive hard forks.
This means that the platform can continue to evolve over time, without causing any major disruptions or headaches for developers and users alike.
With a focus on innovation, scalability, and security, Tezos is a future-proof layer-1 choice for projects looking to build.
But let’s be honest…
Do you really think any of this technical jargon-filled bullshit matters to McLaren?
Oh come on.
They’re partnering with Tezos because they’re able to provide the team with fast, cheap aesthetically pleasing NFTs to flog to fans.
Nothing more, nothing less.
When it comes to Tezos in F1, this is all you need to know about who they are.
Tezos F1 NFTs
So yep, Tezos' involvement in F1 goes beyond just having their logo on the car.
Tezos is also the blockchain behind the non-fungible tokens (NFTs) that are being flogged by McLaren Racing.
One for each Formula One race, woo!
These digital collectibles are available directly on collectibles.mclaren.com.
Or if you miss out, then on the Tezos based secondary market, objkt.com.
I mean you can’t deny that the design work isn’t top notch.
Just check out the latest release from the Australian Grand Prix in this Tweet:
Now as a layer-1 blockchain designed for innovation and scalability, Tezos says they’re the perfect platform for powering these types of digital collectibles.
But the reality is that they just have an excellent design team that gets marketing.
Tezos gets it.
By it, I mean how to screw fans out of their money.
But props to the project and Maclaren nonetheless!
Previous Tezos F1 partnerships
This isn’t Tezos’ first rodeo.
While they’re now partnered exclusively with Maclaren, Tezos involvement in F1 is nothing new.
Remember Tezos prematurely ended its previous deal with Red Bull Racing due to a disagreement over the use of Tezos branding on the team's cars?
Tezos had originally signed a multi-year sponsorship deal with Red Bull Racing in 2021, which included prominent placement of the Tezos logo on the team's cars and driver helmets.
However, during the 2022 season, there was a disagreement over the size and placement of the Tezos logo and the two parties were unable to come to an agreement.
Lol, of all the things.
As a result, Tezos decided to terminate the sponsorship deal early.
Too bad, so sad.
Final thoughts on Tezos in F1 2023
While I’ve been critical about the project and the motives behind their sponsorship of McLaren to sell shitty NFTs, there’s no denying that it’s a good business move.
Tezos is sure to get plenty of airtime throughout the 2023 F1 season, especially if McLaren can get their act together and win a few races.
Are you collecting these?
Let me know in the comments below.
Best of probabilities to you.
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