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 available via an auction, wherein bidders get to collect digital collectibles representing various aspects of Red Bull’s past, present and future.
Speaking to Cointelegraph editor-in-chief Kristina Cornèr, Bybit co-founder and CEO Ben Zhou said that F1 has a symbiotic relationship with crypto as the partnerships between the two industry pulls in young investors into the F1 fan base:
“Formula 1 is the challenger of the norm, and that really goes well with crypto. It’s a really huge synergy we see.”Red Bull Racing F1 car sporting the Bybit logo. Source: Cointelegraph
Parallelly, Bybit premiered The Search for the Next Level, a film starring Red Bull drivers Max Verstappen and Sergio “Checo” Pérez — (spoiler alert) circled around 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
Aston Martin F1, too, signed a multi-year partnership deal with crypto exchange Crypto.com to explore fan engagement and investment initiatives. 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
This year, crypto giant Binance partnered with Alpine F1…