Honda Motor Co. Ltd. is set to launch Formula 1 NFTs in partnership with Animoca Brands Japan. The deal also includes the collaboration of the latter with Gryfyn and GET Protocol to gift both fans and participants with limited-edition commemorative digital tokens as well as membership non-fungible tokens.

The NFTs are for the FORMULA 1 Honda & Red Bull Welcome Event that is set to be held at Zepp Shinjuku in Shinjuku-ku, Tokyo. In addition, fans can also claim their NFTs and other digital gifts at the Honda booth during the Japanese Grand Prix 2023, which will take place at the Suzuka Circuit from Sept. 21 to Sept. 24.

Honda Motor teamed up with Animoca Brands so it can offer exhilarating digital experiences to fans of Formula 1 during the Tokyo and Suzuka events. The Crypto Times reported that attendees of the races can get special digital tokens called the Honda KEY NFTs while the events are ongoing. At the end of the races, fans will also be given a unique digital collectible.

This latest cooperation between Honda Motor and Animoca Brands just shows a modern method of engaging fans of Formula 1 races. The companies use innovative digital experiences, which is how fan interactions are most enjoyed in this era of digitalization.

At any rate, in the announcement, Animoca Brands Japan stated, “Honda plans to offer special experiences and perks at various future events to holders of Honda KEY NFTs, including through special collaborations with various companies.”

The leading global Web3 company further said, “Initially, Honda will distribute Honda KEY NFTs to all fans who apply for the lottery to purchase tickets to the FORMULA 1 Honda & Red Bull Welcome Event in Tokyo, a special event organized by Honda. Event attendees will receive a commemorative NFT to be airdropped to ticket-holders after the event.”

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