Haas F1 Team Taps OpenSea to Launch Branded NFT Series‍

‍Haas F1 Team, the only American-owned team competing in the FIA Formula 1 World Championship, has partnered with OpenSea for a new NFT expansion.

The new agreement stipulates the development of a branded NFT line as well as cross-promotion at racing events where the OpenSea logo will be shown on the VF-22 series cars used by the Haas F1 Team.

"NFTs have the incredible power to unlock new experiences and give us a canvas to bring people together around the things they love in new ways," said Shiva Rajaraman, VP of Product at OpenSea, in a statement. "We're looking forward to bringing innovative collections to life with the Haas F1 Team, building new experiences for their community of dedicated fans, and providing new ways for everyone to get even closer to the action."

The partnership between Haas and OpenSea is the most recent instance of a sports league—and racing brands in particular—adopting Web3 technology to increase their brand's visibility. Back in January, Mercedes, has teamed up with ‘Art2People’ to produce a unique Mercedes-Benz NFT collection based on its G-Class car line. Moreover, ‍Vincenzo Sospiri Racing (VSR), a GT racing team, backed by Lamborghini's motorsport division, partnered with non-fungible token (NFT) platform Go2NFT to launch a program that verifies racing car parts with NFTs. However, there have only been a few profitable sports collaboration initiatives in Web3.

But Haas F1 Team Team Principal Guenther Steiner is optimistic in the team's collaboration with OpenSea.

"We've waited to find the right partner in the NFT space, and in OpenSea, we've found exactly that," said Steiner, "It's going to be exciting for us to take our first steps into the NFT environment and engage with OpenSea's passionate community."

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