McLaren Partners With Turkish Crypto Firm to Launch Formula 1 Fan Token
McLaren, the legendary Formula 1 auto racing team, has entered into a long-term partnership with Turkish crypto firm Bitci.com to create an official fan token for the team.
The U.K.-based McLaren will launch its fan token – which it says is the first of its kind in Formula 1 racing – through the new partnership. Bitci.com will also become an official partner of the racing team, according to Wednesday’s announcement. Bitci.com is a Turkish cryptocurrency exchange with around $50 million in 24-hour traded volume.
McLaren joins other prominent sports teams that have launched fan tokens. The digital limited-edition tokens allow a sports team to make partners out of their fans: token owners earn voting rights on certain decisions made by the teams and other benefits specific to different sports clubs. In 2020, premier league soccer club FC Barcelona made $1.3 million in sales after launching its fan token $BAR.
Earlier this month, Malta-based fan token platform Chillz said it plans to spend $50 million to expand operations to include teams from major U.S. sports leagues like baseball and football.
The McLaren token will be issued on Bitci.com’s native blockchain Bitci Chain that was developed in 2020.
In 2020, Turkey hosted the Formula 1 Turkish Grand Prix for the first time since 2011. Due to the pandemic, the country decided to go ahead with the race but without fans attending. The global audience for the 2020 Grand Prix was an estimated 433 million.
“The fact that McLaren Racing, one of the most outstanding teams and considered as one of the legends of Formula 1 all over the world with its successes, has chosen to work with a Turkish blockchain company for this project is very significant as this is the solid proof for the global success of Turkish entrepreneurs, engineers and software developers,” Çağdaş Çağlar, chairman at Bitci Technology said in a press statement.
The McLaren team, founded in 1963, has had over 180 race wins.
Recommended News
-
Merace has set up a VR technology Laboratory
On September 15, 2021, Merace publishing Company Brilliant Faith has set up a VR technology Laboratory with Manchester Union University. The two sides will cooperate and innovate, deeply cooperate in a gateway in the field of VR technology, 5G communication, point-to-point 3D input, input image editing, and other aspects, jointly tap the potential of VR technology and create the ultimate using experience for users. As early as 2015, Brilliant Faith had an insight into the development prospect of the virtual reality interactive market and the global hot trend of the…
-
Cryptocurrency Fund Flows Decline as Bitcoin Price Trades Sideways
Cryptocurrency fund inflows declined by roughly 58% to $99 million last week. Lower investor appetite for digital asset funds could reflect uncertainty over bitcoin’s price, which recently has traded in a range between $53,000 and $61,000. “Since the February price highs and heightened volatility, we have seen a steady decline in appetite amongst investors,” according to a report by CoinShares, a digital asset management firm. “We have also seen a decline in bitcoin investment product trading volumes to $713 million per day last week, versus $1.1 billion per day for 2021,” wrote CoinShares. Fund flow…
-
The EAFF E-1 Football Championship 2022 Begins. CoinW writes a new chapter of sports event cooperation.
On July 19 at 15:00 Beijing time, along with the opening of the Korea Women’s Football Team vs. Japan Women’s football match, the EAFF E-1 Football Championship 2022 was officially begun. In the next 9 days, a total of 12 matches, male and female soccer players from China, Korea, Japan, Hong Kong, China, and Taiwan will bring a feast of soccer to fans in Asia and around the world. It is worth mentioning that leading digital asset exchang, CoinW debuted in the EAFF E-1 Football Championship 2022 for the firsttime. According to…
-
Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world. Bitcoin has been trading in a sideways range over the past week after failing to sustain an all-time-high around $61,000 reached earlier in the month. The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under…
-
MeRace | FunBall, the first metaverse competitive game of MeRace, will be online officially on January 20, 2022
Recently, the metaverse competitive ecological platform MeRace announced that FunBall, its first large-scale 3D metaverse football competitive game, will start closed beta test on Jan. 20 and will open its qualification to white list users. The game is expected to enter the internal test stage on Feb. 10 and will start public test stage on March 10. The upsurge belonging to FunBall has started. Professional teams research and develop There will be rich game content FunBall is the first metaverse concept game under MeRace, which is different from the relatively simple same concept game in the market. FunBall has made great efforts in game…
-
European royal noble favorite essential oil workshop Estrella Choelus
“Estrella Choelus,” translated from ancient Greek as “Estrella Chœlus,” originally meant a star that was permanent, pleasant, and beautiful.In 1844, while refining essential oils, Galio di Vincenzo, a vegetable oil refiner, discovered that the fragrance they gave off when heated not only made people feel good, but also cured his perennial insomnia.For this reason, he opened an essential oil treatment workshop Estrella Chœlus in a small town to treat anxiety, insomnia and depression by heating essential oil.Guests could not only enjoy the fragrance treatment in the store, but also they could buy back…
-
While top GameFis are experiencing crisis, where is the turning point? Elven World rises as a game changer!
“There are two paths to the future of mankind, either towards interstellar civilization or towards the virtual world of VR technology — the metaverse. ” As the pioneer of the metaverse sector, GameFi is a bottom-up revolution in nature. The future of GameFi will be extremely optimistic, but the current development has only just begun, not only that there are many challenges, but it is a long way to go.What’s the current state of GameFi industry? First Stage: Carnival The natural anti-monopoly attributes, ultra-high topicality and liquidity nature of GameFi make it an object of…
-
Enjin Raises $18.9M in Private Token Sale to Build Polkadot Parachain for NFTs
Blockchain platform Enjin has secured a multimillion-dollar funding raise in a bid to migrate its upcoming public blockchain Efinity to Polkadot. According to a press release shared with CoinDesk, Enjin has secured $18.9 million in a private token sale led by Crypto.com Capital, DFG Group and Hashed. Additional support for the raise came from Hypersphere, BlockTower, Blockchain.com Ventures, Fenbushi, Iconium, HashKey, Arrington XRP Capital, DeFi Alliance, among others, in what represents continued investor interest in non-fungible tokens (NFTs) as a gateway to mainstream adoption. The funding was conducted via a…
-
Staking as an Asset Class? This Swiss Institutional Fund Is Jumping In
While institutional investors around the world are just getting their heads around bitcoin (BTC, +5.09%), asset managers in crypto-friendly Switzerland are heading into staking on next-generation blockchain networks. Announced Friday, Zurich-based investment firm Tavis Digital has partnered with Singapore-based Persistence, a bridge for traditional firms into undiscovered realms such as token staking and decentralized finance (DeFi). Tavis Digital is a spin-off of Tavis Capital, an asset manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) with about $1.07 billion in assets under management. Nimble and financially sophisticated countries like Switzerland and…
-
Youkey Public Link Global No de Campaign poll officially opened on May 8 , 2 0 2 1
The Youkey Public Link No de campaign poll officially opened on 8 May 2 0 2 1 , with the No de poll participating in the youkeyDAPP decentralized Wal let .The node voting will run for 10 public chain nodes , with a voting cycle of 30 days .The whole voting process is conducted by a smart contract system to ensure a fair notarization of the voting . Youkey public chain , as the public chain of a new generation of comprehensive functions , is a meaningful proof of work…
