Animoca Brands and Honda Unveil NFT Strategy for F1 Events

Animoca Brands Japan has disclosed a collaboration with Honda, Gryfyn, and GET Protocol. This partnership aims to offer attendees of the upcoming FORMULA 1™ Honda & Red Bull Welcome Event and the 2023 F1 Japanese Grand Prix some distinctive experiences through integrating blockchain technology in the form of NFTs.

Event Details and Offerings

Slated for the 20th of September, 2023, at Zepp Shinjuku, Tokyo, the FORMULA 1™ Honda & Red Bull Welcome Event is garnering attention for its Web3 approach to fan engagement. Honda plans to distribute Honda KEY NFTs to lottery participants, aiming to secure tickets to the Tokyo event during these events. Furthermore, those who attend the event are set to receive a commemorative NFT, which will be airdropped to their ticket-holder accounts afterwards.

Moreover, the Honda booth at the Japanese Grand Prix 2023, scheduled from the 21st to the 24th of September at the Suzuka Circuit, is also part of this initiative. Fans visiting the Honda booth at the Suzuka Circuit can redeem special items and Honda KEY NFTs, enhancing the overall experience of the event attendees.

Collaborative Efforts and Future Plans

This initiative is part of a larger strategy where Honda is working closely with Animoca Brands Japan to amplify fan engagement in Honda's motorsport activities. Gryfyn, another subsidiary of Animoca Brands, plays a critical role as a Web3 wallet facilitating connections between brands and communities and is slated to host the Honda KEY NFT.

Get Protocol enables event organizers to integrate NFT capabilities into their operations. Notably, the platform has created several features, such as developing collectibles for sports enthusiasts and facilitating advance funding for future events for independent creators. Recently, the GET Protocol collaborated with the Dutch Grand Prix to introduce digital collectibles linked to tickets at the 2023 Zandvoort race.

Since its inception, GET Protocol has facilitated the distribution of over 4 million blockchain-backed tickets for a range of artists, including well-known names like Ne-Yo, Gucci Mane, Lewis Capaldi, and Louis C.K., through collaboration with ticketing firms globally.

In July, the company secured a significant investment of $4.5 million. This financial boost represents a milestone for the young company. It threatens to disrupt the industry's dominant hold of conventional ticketing firms, potentially heralding a change in the sector's prevailing dynamics.

In the grander scheme, Animoca Brands Japan aims to foster global Web3 strategies, providing a platform that melds Japanese intellectual property and content with blockchain technology. This venture is another step in bridging Japanese intellectual properties with a worldwide fan base, indicating the potential transformations within the event and fan engagement sectors.