In this week’s newsletter, read about how a nonfungible token (NFT) protocol was affected by the FTX collapse leading to layoffs. Despite the effects of the FTX collapse, industry players within the NFT space are still confident in the recovery of NFTs. Meanwhile, Disney brought back metaverse-backer Bob Iger as its CEO, and check out how NFTs have taken center stage at Formula 1. And, don’t forget this week’s Nifty News featuring China-based tech companies offering FIFA World Cup fans a metaverse-like viewing experience of the soccer event. Nickel Digital, Metaplex and others continue to feel the impact of FTX …

Cryptocurrency and blockchain technology firms continue to feature in the world of Formula 1, with a nonfungible token (NFT) making its mark on Red Bull Racing’s vehicles to close out the 2022 calendar. Red Bull Racing dominated the F1 season, topping the constructors’ standings, while Max Verstappen closed out the drivers’ standings for a second consecutive season. With the curtain closing on 2022’s race schedule in Abu Dhabi on Nov. 20, the team’s cars will feature an NFT on their livery in what is being called a first in F1. Red Bull Racing struck a deal with cryptocurrency exchange ByBit …

McLaren's Australian driver Daniel Ricciardo sat down with Cointelegraph during the Token2049 conference in Singapore, discussing his recent involvement in crypto ahead of the 2022 Singapore Grand Prix. Alongside OKX CMO Haider Rafique, the duo delved into a new partnership between McLaren Racing and the crypto exchange, exploring a variety of entertaining marketing moves between the two brands. Ricciardo featured in a new OKX advert launched earlier this year standing alongside the McLaren MCL36 F1 racing car while his "spirit animal" honey badger sat in the cockpit of the vehicle. The tongue-in-cheek advert highlights the relatively unknown status of the …

Formula One could introduce nonfungible tokens (NFTs), digital collectibles and cryptocurrency payment support ahead of the inaugural Las Vegas Grand Prix in 2023. F1's trademark department registered two new trademark filings with the United States Patent and Trademark Office on August 23. The filings outline the trademark and logo for the Las Vegas Strip Circuit and a wide-ranging list of goods and services that the event intends to offer during next year’s race. Of particular interest were specific mentions of NFT and cryptocurrency-related offerings as well as blockchain-powered transactional services. The filing notes NFTs that will represent ownership of a …