McLaren enters Hedera Council, boosting blockchain and fan engagement
McLaren Racing has joined the Hedera Governing Council as one of its members. The racing team has already launched several digital collectibles on the Hedera blockchain and plans to further expand its collaboration.
Highlights
- McLaren joins Hedera Council with equal governance voting rights.
- Team expands blockchain strategy with digital collectibles and fan engagement.
- Partnership reflects growing Web3 adoption across global sports industry.
Collectibles and network governance
According to Decrypt, the Surrey-based racing team, which has won the last two Formula 1 Constructors’ Championships, will participate in governing Hedera’s software and services. McLaren will actively engage with the network, holding equal voting rights alongside other council members.
“Joining the Hedera Council allows us to contribute to the development of the network while delivering seamless, secure, and scalable fan engagement experiences worldwide,” said McLaren Racing Co-Chief Commercial Officer Nick Martin.
The Hedera Governing Council currently consists of 39 members from sectors including finance, energy, legal, technology, and academia, all with equal voting rights. Members include major companies such as Google, IBM, Dell Technologies, LG, Deutsche Telekom, and Ubisoft, with logistics giant FedEx joining last month.
McLaren has already launched free digital collectibles on Hedera tied to specific races and locations, including Grands Prix in Melbourne (Australia) and Shanghai (China), and plans similar releases for Suzuka (Japan).
In addition, McLaren leadership will attend HederaCon on May 4 in Miami Beach, held alongside the Formula 1 Miami Grand Prix.
A mutually beneficial expansion
The announcement has had a limited short-term impact on Hedera’s HBAR token, which rose by about 1% over 24 hours, in line with the broader crypto market. At the time of writing, HBAR is trading around $0.095, down 83% from its all-time high of $0.569 in 2021.
However, McLaren’s entry into the Hedera Council reflects a broader trend of blockchain adoption in sports and entertainment. For Formula 1 teams, it represents not only enhanced fan engagement but also new revenue streams through NFTs and Web3 tools. For Hedera, the partnership provides access to a global motorsport audience, potentially accelerating adoption of its technology.
As we wrote, OKX gives away McLaren Formula 1 Team tickets and 50,000 USDT in rewards
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