Formula 1 Races Into The NFT World: Platinium Group Launches NFT Race Passes


Premier Formula 1 ticket distributor, Platinium Group, is venturing into the realm of non-fungible tokens (NFTs) by launching NFT race passes, starting with the much-anticipated Monaco Grand Prix.This innovative project is the result of a collaboration with Elemint, a blockchain infrastructure firm, and Bary, a Web3 agency, tasked with designing, minting, and retailing the NFT passes, Coindesk reported.These novel tickets will be created on the Ethereum ETH/USD sidechain Polygon MATIC/USD and will offer holders more than just entry to the race.They are designed to continue delivering value post-event through perks like hospitality advantages and future race discounts, a strategy aimed at fostering brand loyalty among collectors.Also Read: Binance Pulls The Plug: Token Deposits Suspended Due To Multichain MayhemElie Zerbib, co-founder of Bary, emphasized the numerous advantages that come with NFT-based tickets, such as traceability, transparency, easy digital ticketing, customization, and engagement.


 He noted the importance of making this innovative ticketing process user-friendly to cater to Formula 1's diverse, global fan base."We aim to offer a completely straightforward experience on our main website, allowing users to purchase NFT tickets without any prior knowledge of Web3," he explained.Elemint's CEO, Jacques-Henri Eyraud, believes that the benefits of integrating blockchain technology into event ticketing extend far beyond Formula 1, potentially impacting the broader sports and entertainment world.


He suggested that Web3 technologies allow for ticketing solutions that are safer, more tailored to each event, and offer a more personalized and enjoyable experience for fans across various sports competitions.As a testament to the exclusivity NFTs can offer, some NFT holders for the Monaco Grand Prix may get the opportunity to attend the event's most exclusive soirée, added Zerbib.Read Next: The Sinister Side Of Crypto: Unravelling Coinone Executive's Million Dollar Bribery And Murder SagaPhoto: Shutterstock 



Source : [Formula 1 Races Into The NFT World: Platinium Group Launches NFT Race Passes]( undefined - F1 Ticket Provider•Benzinga / May 27, 2023


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


Automata ICO Limited, a Company incorporated in Ireland with its registered office at 3rd Floor Ormond Building, 31-36 Ormond Quay Upper, Dublin 7, D07 Ee37, Ireland registered in Ireland under number 690280 has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing, we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS.

Automata ICO Limited, a Permanent Establishment incorporated in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.