Crypto and Formula One’s honeymoon is over, can Web3 save a rocky marriage?


New blockchain use cases are showcasing the technology’s potential to disrupt industries, even as the extended cryptocurrency bear market continues to bite. From non-fungible tokens (NFT) tickets and wing sponsorships to digital art exhibitions, this weekend’s Singapore Grand Prix will showcase the best of a new wave of crypto innovations.

Crowds flock from around the world to watch the night race around the iconic Marina Bay Circuit. The race was attended by 302,000 spectators in 2022 and the sport boasts a global fan base many times larger, with each race attracting an average worldwide TV audience of 70 million.

This makes Formula One a shop window for brands and ideas, particularly those at the forefront of innovation. A host of events take place in Singapore to coincide with the race, including this week’s TOKEN2049 conference, and Affyn’s Web3.0 | Art Meets Metaverse event on September 16. The vibe is more about innovation than speculation.

It’s a marked change from the heady days of 2021 when crypto exchanges signed dozens of high-profile, multi-million dollar…

Read more…