Mercedes F1 NFT by FTX comes with real car part

The inaugural Formula 1 Grand Prix in Miami is set to take place next weekend, and given the rising status of Miami’s crypto city, it’s no surprise NFTs will be taking part. In this case, the offer is not entirely digital – some NFTs also come with part of a real F1 car.

Cryptocurrency exchange FTX and F1 team Mercedes-AMG Petronas today announced that they will be releasing a slew of NFT collectibles for both the Miami Grand Prix and other races before the end of the 2022 season. FTX and Mercedes-AMG Petronas first announced their long-term alliance last September.

FTX will issue 1,000 free limited edition NFT tickets to the Miami Grand Prix and other races this season, each minted on Solana and released through the FTX NFT Marketplace.

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Selected other races this season will offer up to 2,500 free NFT Collector Tickets. The free NFT stub for each race will have a unique design, and FTX is exploring ways to add the potential utility of NFTs to the benefit of holders.

For the Miami event, FTX and Mercedes-AMG Petronas also teamed up with acclaimed artist Mad Dog Jones to release 10 limited edition Ethereum NFT artworks to be auctioned off.