Artema LABS’ NFTs Of Formula 1 Racing Memorabilia Enter The Motorsport Multiverse

Formula 1 racing is having a moment in the United States. This is, in great part, related to the success of the television series Drive To Survive. The impact of that show has broadened interest in all things Formula 1.

Artema LABS has entered this space, building unique digital collectables based upon the sport’s cars and drivers. Artema, working with the Motorsport Multiverse, is creating three series of NFTs: Motorsport Moments, Motorsport Cards, and the Nigel Mansell collection.

The collection of NFTs go on sale on later this month. There is a pre-sale pass currently on sale for early access to the collection. Sale information is:

www.motorsportmultiverse.com

For fans and collectors, obtaining any of the actual gear used by drivers is nearly impossible. They are highly coveted, rare, and expensive. Even replica helmets, when they can be found, cost thousands of dollars. Artema LABS’ NFTs are precise recreations using 3-D imagery of the helmets, gloves, racing suits and even the cars used by the F1 drivers. They are sold by in editions, representing the critical paraphernalia of racing.

The team at Artema ideates, designs, and manufactures interactive immersive 3-D engineered digital products which live on a layer 2 blockchain. They partner with Motorsport which holds licenses to much of the intellectual property of F1 racing. Motorsport is the hub in the F1 community, holding much of the intellectual product rights to images and products. They host more than 62 million visits monthly to their websites.

Motorsport created the Motorsport Multiverse to build community among fans and a distribution platform to supply them with unique access to a variety of products related to teams and their drivers. The upcoming drop on their platform is in partnership with Artema which built the NFT products being sold.

I spoke at length with Madhu Vijayan, CEO of Artema LABS about how they are working with Motorsport to build NFT editions. These NFTs represent faithful replications of the vehicles and gear used by the racers, or the Moments series which incorporates video within the NFT. They are also building a separate collection commemorating Nigel Mansell, the lauded driver who won 31 races in his fifteen seasons as an F1 driver. This is the 30^th anniversary of his F1 championship.

Historically, NFTs have been difficult to purchase, requiring consumers to navigate crypto wallets and unfamiliar currencies. Artema has built tools to facilitate purchasing, including allowing purchases directly with a credit card and hosting the purchased items in an Artema wallet. This simplified mechanism for distribution facilitates broadening the pool of potential consumers as, in racing terms, it turns a convoluted path into a straight away.

Madhu is extremely proud of the detail incorporated into the NFTs. The items come “boxed” in a digital clear case which can be opened by the purchaser. Within the case is the item. If, for example, the purchased item is a helmet, the visor on the helmet can be opened, the helmet can be rotated, and all of the wear, signatures and branding on the item is as if you held the original in your hands.

Similarly, their video products come within a clear cube which can be rotated to see different images, one of which launches a short video.

This collection intersects the world of collectible items and those held for future resale. Like anything, the scarcity of the item and the demand it generates will determine the ultimate market value.

Artema LABS itself is interesting as they first built a portfolio of more than one hundred patents covering areas as broad as recourse in transactions which go awry, the ability to turn an NFT on or off and the ability to launch a video which is resident on the blockchain. Artema allows for continuously evolving features in digital objects.

Because of the broad nature of the patents filed by Artema, they were able to raise a $10,000,000 first round of funding with a pre-money valuation of $400,000,000. This collaboration with Motorsport will be their first product release.

Going forward, Artema is working to develop play to earn games. There are other projects with creative content of film and music projects in their near future. Artema productizes the objects. Unlike the history of NFTs to date which have been about provenance, using the NFT as an immutable receipt, Artema is focused on crafting digital objects.

For this immediate release, Motorsport are the experts who know where the demand lies. Artema decides on the look and feel of the objects agreed upon by both parties. Motorsport has the final sign off as it is their brand. It is their Multiverse.

Madhu explained the Motorsport Multiverse and how Artema LABS is building highly detailed NFTs during our conversation. Below are links to that discussion in both video and audio podcast formats:

The entire space of digital assets is still in its infancy. To date NFTs have been as much for speculation as for utility. That’s changing quickly as consumers become more picky about what digital assets they are willing to purchase.

The Artema team’s emphasis on highly detailed and easy to purchase products is likely to become the norm. In any competition for consumer’s dollars, the winners are almost always those who have the best products. Artema is focused on delivering high caliber NFTs built on top of Motorsport’s F1 racing intellectual property. The consumer is about to tell us whether they are interested. Ladies and Gentlemen: prepare yourselves. The starter is about to begin sales of this F1 digital product.