(Rejected) Formula 1 Heineken Australian Grand Prix 2022 Adopts Blockchain Technology for Enhanced Fan Experience

In partnership with CENNZnet, the Formula 1 Heineken Australian Grand Prix 2022 held in April took fan experience higher by offering tradeable tokens and a blockchain-powered fan portal.

CENNZnet, a New Zealand-based public blockchain platform, was employed by Power’d Digital, a leader in sports collectibles and tokens, in the delivery of unique fan experiences.

Nicole Upchurch, the CEO of CENNZnet, acknowledged:

“Although this powerful technology sat behind the fan tokens, from the fan perspective they simply interacted, transacted, traded and purchased with an easy-to-use website (or phone app). It was hard to tell blockchain was involved at all! This represents a shift of power to the fans, and hints at the future of fandom.”

To enjoy and participate in the Australian Grand Prix, fans had the chance to buy tokens packs before the event, with every pack consisting of five tokens that could unlock unique experiences and rewards.

The packs were categorized from starter to premium, elite, and pole tiers. Per the report:

“Each successive tier provided access to additional benefits from the preceding tier and included discounted merchandise, presale access, pit lane walks, photos with the F1 GP trophy, the opportunity to bid in an online auction for the Track Hot Laps experience in which the winner sat shotgun in a lap around the Grand Prix Circuit – in full GP mode – at speeds of up to 250km/hr., and more.”

Thousands of fans got the opportunity to enjoy blockchain-based experiences. Scott Dinsdale, the CEO of Power’d Digital, pointed out:

“We could not have invented better partners in Arthur, the fan-first team at the Australian Grand Prix Corporation and CENNZnet. We eagerly look forward to next year, and to amplifying fan engagement, value and experience across live sport and around the world.”

Meanwhile, the connection between Formula 1 and crypto companies continues to emerge.

With 80% of racing teams in the 2022 Formula 1 (F1) grid featuring at least one crypto sponsor, Mercedes team principal Toto Wolff acknowledged that cryptocurrencies are part of modern technology that cannot be ignored.