Red Bull Racing scores $150M sponsorship with Bybit
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....
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Bybit has announced the first-ever Formula One sponsorship deal with Oracle Red Bull Racing. The Singaporean crypto company will be backing its efforts to become a top team in motorsports, jumpstarting this new partnership by becoming “Principle Team Partner” for the 2022 season. The partnership will help Bybit grow its fan engagement even more by […]
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....
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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