Platinum Group, the leading ticket issuer for Formula 1, is releasing non-fungible token (NFT) race tickets – starting with the Monaco Grand Prix this weekend.
Platinum Group has teamed up with blockchain infrastructure company Elemint and Web3 agency Bary to help create, mint and sell the NFT tickets.
According to a press release, the tickets will be minted on Ethereum sidechain Polygon. Not only will the NFTs provide access to the race, but they will continue to provide utility to holders after the event, such as hospitality benefits and future race discounts to encourage collectors to stay loyal to the brand.
Read the full article from CoinDesk here.