Cryptocurrencies have taken the world by storm, and Formula 1 has been no exception. From non-fungible tokens (NFTs) and fan tokens to multi-year partnerships, the crypto community continues to support the world of F1 in numerous ways.
At the 2022 Monaco Grand Prix, F1’s fastest pit crew Oracle Red Bull Racing (ORBR) has partnered with cryptocurrency exchange Bybit to launch ORBR’s 2022 NFT collection, minted on the Tezos blockchain. The Limited Edition NFT Collection is available via auction, where bidders can collect digital items representing various aspects of Red Bull’s past, present and future.
Speaking to Cointelegraph Editor-in-Chief Kristina Cornèr, the co-founder and CEO of Bybit, Ben Zhou said that F1 has a symbiotic relationship with cryptocurrencies, as partnerships between the two industries attract young investors to the F1 fanbase.:
“Formula 1 is challenging the norm, and that goes really well with crypto. It’s a really huge synergy that we see.”
Parallel, bybit premiered The Search for the Next Levela film starring Red Bull drivers Max Verstappen and Sergio “Checo” Pérez(spoiler alert) surrounding the launch of the new RB18 car.
Something big is on its way…
Find out more about this next level partnership with @redbullracing!
Catch the full film — out now on the Bybit Race Insider Page: https://t.co/wKhQa6uIqQ #TheSearchForTheNextLevel pic.twitter.com/l5aWurtkbL
— BYBIT (@Bybit_Official) May 24, 2022
Something big is on the way…
Find out more about this next level partnership with @redbullracing!
Watch the full movie, which is now available on the Bybit Race Insider page.
Aston Martin F1, too, signed a multi-year partnership deal with cryptocurrency exchange Crypto.com. to explore fan engagement and investment initiatives. The Crypto.com NFT marketplace continues to be the go-to place for Aston Martin NFT airdrops and limited edition collectibles.
On-track action is about to kick off in Monaco.
Don’t miss a moment of the #MonacoGP weekend.#F1 | @cryptocom
— Aston Martin Aramco Cognizant F1 Team (@AstonMartinF1) May 27, 2022
The on-track action is about to start in Monaco.
Don’t miss a moment of the Monaco Grand Prix weekend. F1/Crypto.com.
This year, the cryptocurrency giant Binance Partnered with Alpine F1 Team to Airdrop NFTs and Collectibles. Taking fan engagement to the next level, Binance held an event on May 20, allowing a fan to experience the life of an Alpine F1 mechanic.
Looking forward to spotting #Binance at the #MiamiGP this weekend on the @AlpineF1Team cars. pic.twitter.com/BBEp1HBAYk
— CZ Binance (@cz_binance) May 7, 2022
We are looking forward to seeing Binance at the Miami Grand Prix this weekend in the @AlpineF1Team cars.
Previously, Cointelegraph reported global crypto and Formula 1 collaborations through March 2022.
Some prominent collaborations active during the 2022 Monaco Grand Prix are: Ferrari and blockchain firm Velas, Mercedes and crypto exchange FTX, and Alfa Romeo and Shiba Inu-inspired memecoin Floki Inu (FLOKI) (SHIB).
A recent study by fintech giant Deloitte discovered the potential of blockchain and cryptocurrencies, and how this can open up new markets and revenue opportunities for the sports industry:
“A nexus will form around sports collectibles, ticket sales, betting and gaming. We are just beginning to see its potential.” [de la criptomoneda]as well as the new markets to which it could give rise”.
The study also highlighted the The study also highlighted the possibility of new markets that allow “fractional ownership of season tickets and suites and a reinvention of the ticket resale process.”
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