McLaren Racing has bagged itself a seat in the governance ecosystem of Hedera network giving it a key say in the shaping up of the Layer-1 blockchain. On Tuesday, the Hedera Council announced that the F1 defending champion has joined the organization, that controls the Hedera blockchain and keeps it alive.
The British racing giant now joins Google, FedEx, and IBM among others who are part of the Hedera Council, contributing to guide the network’s advancements.
McLaren Racing enjoys a fanbase of millions of viewers internationally. With a seat in the Hedera Council, the brand is intended to bringing market insights and requirements to the table, according to which the network could shape up in the future.
It will be part of the governance decisions of the Hedera network through voting among Council members.
“Joining Hedera Council enables us to help shape the Hedera network’s evolution, while delivering a seamless, secure, and scalable fan experience worldwide,” said Nick Martin, Co-Chief Commercial Officer, McLaren Racing.
The two entities first joined forces in January when McLaren had picked Hedera to explore fan engagement options, with a Web3 twist. As per Hedera, a series of free-to-mint digital collectibles branded after the racing champion’s iconic elements.
This fresh development has only cemented McLaren’s position in the mainstream Web3 ecosystem. In return, the F1 giant gets access to enterprise-scale blockchain tech to explore upgrades in the areas of fan engagement and data management.
“We will explore how McLaren Racing can leverage Hedera’s enterprise-grade, sustainable network to power use cases across fan engagement, digital assets, and data integrity to enable new consumer experiences grounded in speed, security, and trust,” said Mance Harmon, Chairman of Hedera Council, commenting on the development.
In the past, McLaren Racing had dabbled in NFT initiatives with partners like Tezos and OKX. Whether it terms its upcoming series of digital collectibles as NFTs remains a wait-and-watch case.