A prominent player in the racing scene, Oracle RedBull Racing has formed a strategic alliance with the fresh-faced Sui blockchain. This multi-year collaboration is focused on bridging real-world and online projects, aligning with Mysten Labs as well. Know More The deal was struck between Oracle RedBull Racing and Mysten Labs to work together on a series of initiatives, coinciding with the excitement leading up to the upcoming Spanish Grand Prix in Barcelona.

Mysten Labs, largely founded by ex-Meta staffers, launched the Sui Network to tackle pressing scalability issues within the crypto arena. Their partnership with Red Bull Racing is anticipated to propel the growth and visibility of the protocol. Know More It's noteworthy that this collaboration comes at a time when several Formula 1 teams are stepping back from crypto affiliations. RedBull Racing previously cut ties with another blockchain network in December 2022. Initially, they had partnered with Tezos to develop a series of NFTs, and later made an announcement on Twitter stating they wouldn't renew their agreement with RBR as it didn't fit their current strategy. Nevertheless, given that this was thought to be a multi-year deal, some speculate there might be underlying reasons behind this split.

While some teams are pulling back, others like Williams Racing are still seizing crypto opportunities; they recently inked a sponsorship deal with the crypto exchange Kraken back in March. Read More The repercussions of these developments on the industry landscape remain ambiguous, as teams try to navigate through shifting crypto alliances while recalibrating their operational strategies. The collaboration between Oracle Red Bull Racing and Sui blockchain signifies an important turning point for Formula 1's engagement with cryptocurrency.

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For the upcoming Grand Prix weekend in Monaco, the second drop of NFTs features an electronic driving simulator along with a rare opportunity to claim a real simulator from the Monaco Energy Station. This unique NFT includes a full Esports rig made use of during the racing event, featuring a Fanatec Podium F1 wheel, wheelbase, and CSL Elite pedal system. The auction commenced on Thursday and will conclude on Tuesday, with the highest bid currently standing at 350,000 XTZ—equivalent to $640.50.

Crossmint, Doodles, and Red Bull Come Together to Launch NFTs in a Doodle Art Contest News Report A collaboration between Oracle Red Bull Racing, Bybit, and Chiru Labs allows Azuki to become the first NFT showcased on an F1 vehicle.

• Chain has secured its position as the official Web3 and blockchain sponsor for the NFL's New England Patriots. Technology Please remember that the information on this page is not designed to function as legal, tax, investment, financial, or any type of advice. It's crucial to only invest what you can afford to lose and seek independent financial guidance if needed. For more details, we recommend checking the terms and conditions as well as the help resources provided by the issuer or advertiser. MetaversePost aims for accuracy and unbiased reporting, but market conditions can change without notice.

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