Red Bull Racing Honda to release NFT collection on Tezos blockchain

The Formula One team Red Bull Racing Honda has formed a partnership with blockchain platform Tezos to issue a line of collectible non-fungible tokens (NFTs).

Teaming up with the world’s most advanced blockchain 👊 Announcing a new multi-year technical partnership with @Tezos as our Official Blockchain Partner.

— Red Bull Racing Honda (@redbullracing) May 20, 2021

Under the agreement, Red Bull Racing will release its first NFT collection on the Tezos blockchain. Team principal Christian Horner noted that the platform operates with minimal energy consumption and a small carbon footprint, aligning with Red Bull Racing’s long-term environmental goals.

“This [NFT] is an extremely exciting space where we were looking for the right partner. We firmly believe that we have chosen a winner who will help us provide fans with a new, unique and innovative way to engage with the team,” Horner said.

Earlier, Tezos developers activated the sixth in order Florence update. Among the main changes were extending the maximum operation size to 32 KB, rearranging the links between smart contracts and optimizing gas consumption.

As reported in April 2021, the financial group Societe Generale released the first structured product in the form of security tokens on the Tezos public blockchain.