F1 Monaco GP: Bybit’s Red Bull Racing NFTs, crypto-F1 partnerships and more
From NFTs and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways. Crypto has taken over the world, and Formula 1 was no exception to the disruption. From nonfungible tokens (NFTs) and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways.Monaco Grand Prix 2022 saw F1’s fastest pit crew, Oracle Red Bull Racing (ORBR), partner with crypto exchange Bybit to launch ORBR’s 2022 NFT collection — minted on the Tezos blockchain. The limited-edition NFT collection is made....
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Formula One team Red Bull Racing scores a multi-year partnership worth $50 million per annum with crypto exchange Bybit. Following Red Bull Racing's most recent wins at Formula One (F1), the racing team scores a three-year partnership with Singapore-based crypto trading platform Bybit for $50 million per year. According to the announcement, the fee will be paid in a combination of fiat and BitDAO (BIT) tokens.The company announced that the partnership aims to broaden the F1 team's fan engagement through its capabilities as a crypto exchange. Bybit will act as an issuer of fan tokens and as....
Red Bull Racing (RBR) has announced the cryptocurrency exchange platform Bybit has joined RBR as a principal team partner. According to the announcement, RBR says the deal is the “largest per annum cryptocurrency sports agreement to date.” Red Bull Racing and Crypto Exchange Bybit Ink Multi-Year Deal On February 16, 2022, the Formula One racing team Red Bull Racing (RBR) revealed the firm now has a cryptocurrency-centric principal team partner. RBR has partnered with the exchange Bybit, and the deal is a multi-year agreement that allows Bybit to be a “top tier ally....
It’s been a pretty productive start to 2022 for Tezos, particularly when it comes to new partnerships. While the blockchain had it’s most notable deal up until last year with Red Bull’s F1 racing team, Tezos is building out new brand partnerships, new NFT roll-outs, and now a new sports sponsorship deal with European football […]
Crypto has been hitting the raceways in full force this month. Last week, IndyCar’s Roush Racing became the first U.S. sports team to launch their own fan token. Additionally announced last week is that this year’s Indy 500 will feature a Bitcoin-branded racecar, courtesy of Ed Carpenter Racing. Now, Red Bull is teaming up with […]
Are crypto companies sponsoring F1 for the glitz and glamor, or will NFTs demonstrate important use cases behind these partnerships? The cryptocurrency community has always put an emphasis on decentralization and globalization. Therefore, it shouldn’t come as a surprise that a number of crypto companies are sponsoring Formula 1 (F1) racing teams in an attempt to further connect with audiences across the world. Research by global analytics company Nielsen Sports found that Formula 1 has the potential to reach about one billion fans globally this year, with the 16–35 age group accounting for....