Formula One Seeks Exposure in Web3 by Filing for Eight NFT and Crypto Trademarks

The representatives of big sport continue dipping their toes into web3 waters. The major racing giant Formula One is no exception. Thus, on October 10th the licensed trademark attorney Mike Kondoudis posted a tweet in which he reported about eight web3 trademark applications filed by Formula One concerning its globally renowned F1 abbreviation. The post reads the following: "Formula One has filed 8 trademarks for "F1" covering:

  • Cryptocurrency and NFTs
  • NFT and Crypto marketplaces
  • Retail stores for virtual goods
  • Blockchain financial transactions
  • Cryptocurrency trading and mining, and more!

Thus, the racing car league aims to claim itself loudly in web3 with its trademark covering software for use with crypto, meta assets, digital collectibles, and NFTs, as well as software for crypto payments and exchange transactions.

In addition to software, F1 is looking to provide retail store services selling virtual goods, as well as create its own web3 marketplace to trade crypto and NFTs. Moreover, Formula One is likely to offer entertainment services using virtual goods such as NFTs in both VR and mixed-reality environments.

Actually, it's not the first time that F1 turns to the United States Patent and Trademark Office for trademark filing. Earlier, in August, the racing giant filed for the Las Vegas Strip Circuit, to apply F1's brand and logo in multiple goods and services during next season's race.