The Formula 1 racing organization has registered two trademarks related to digital assets, metadata sources and non-alterable tokens (NFTs).

Trademark attorney Mike Kondoudis said the applications are for the Las Vegas Grand Prix, scheduled for November 2023.

Formula 1 has filed 2 trademark applications for the LAS VEGAS STRIP CIRCUIT:
▶️NFTs
▶️Cryptocurrency
▶️Insurance + financial services
▶️Virtual clothing + sports equipment
▶️Currency trading + Virtual currency services
…and more!#NFTs #virtual universe #Crypto #web3 #F1 #LasVegas pic.twitter.com/AfMj6R19TW

— Mike Kondoudis (@KondoudisLaw) 29 August 2022

Relevant documents have already been filed with the US Patent and Trademark Office.

According to the expert, Formula 1 also deals with virtual apparel, sports equipment, financial services, currency trading and insurance sectors.

In June 2021, the racing organization signed a five-year partnership agreement with the cryptocurrency platform Crypto.com.

In September of the same year, the FTX bitcoin exchange became the sponsor of the Mercedes-AMG Petronas Formula 1 team.

Recall that in February 2022, Binance and Bybit trading platforms announced a partnership with BWT Alpine and Oracle Red Bull Racing, respectively.

In May, cryptocurrency exchange OKX signed a multi-year deal with British racing drivers McLaren F1 Team and their McLaren Shadow esports Team.

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