<\/p>\n
Another crypto company is moving into the Formula 1 arena.<\/p>\n
Web3 infrastructure firm Mysten Labs is linking up with Oracle Red Bull Racing \u2014 a team featuring drivers Max Verstappen and Sergio Perez that has had six wins in six 2023 races. <\/p>\n
The company declined to disclose the terms of the multi-year deal.<\/p>\n
Led by former Facebook employee, Mysten Labs introduced layer-1 platform Sui<\/a> last year. The blockchain’s mainnet went live on May 3, 2023. <\/p>\n Adeniyi Abiodun, Mysten Labs’ co-founder and chief product officer, told Blockworks that working with the racing organization allows the company to introduce Web3 technology capabilities to an entirely new audience. <\/p>\n \u201cOracle Red Bull Racing, with its global fanbase, offers an excellent use case for the kind of community engagement that our decentralized technology allows,\u201d he added.<\/p>\n \u201cImmersive experiences\u201d stemming from the partnership are set to be announced in the coming weeks. <\/p>\n \u201cThe Sui Network and the team behind it are the best possible partners to help Red Bull use the latest peer-to-peer technologies to build a deeper, more fulfilling connection with the supporters of our racing team,\u201d Red Bull Racing Team Chief Christian Horner said in a statement. <\/p>\n The new partnership comes after a new NFT ticketing system debuted<\/a> around last weekend’s Monaco Formula One Grand Prix \u2014 the latest example of the crypto and racing worlds colliding. <\/p>\n crypto.com become<\/a> the first crypto sponsor of Formula One in 2021 as part of a reported $100 million deal and became a title partner of Formula One’s Miami Grand Prix race in February 2022.<\/p>\n Crypto exchange OKX revealed a partnership with McLaren Racing<\/a> in May 2022 as part of a multi-year deal worth “hundreds of millions,” a spokesperson told Blockworks at the time.<\/p>\n Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter<\/a> now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief<\/a>,<\/strong><\/p>\n Can’t wait? Get our news the fastest way possible. Join us on Telegram<\/a> and follow us on google news<\/a>,<\/strong><\/p>\n Another crypto company is moving into the Formula 1 arena. Web3 infrastructure firm Mysten Labs is linking up with Oracle Red Bull Racing \u2014 a team featuring drivers Max Verstappen and Sergio Perez that has had six wins in six 2023 races. The company declined to disclose the terms of the multi-year deal. Led by […]<\/p>\n","protected":false},"author":2,"featured_media":103225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,8687,223,8890,224,222,5203],"class_list":["post-103224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-formula-1","tag-meme-coin","tag-mysten-labs","tag-robinhood","tag-solana","tag-sports-marketing"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/103224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=103224"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/103224\/revisions"}],"predecessor-version":[{"id":103226,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/103224\/revisions\/103226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/103225"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=103224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=103224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=103224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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