If cryptocurrency is to finance what Formula 1 is to cars, it’s absurd, and this becomes even more evident in 2022, as they are the main players in the economy of sponsorship.<\/p>\n
In recent months, numerous partnerships have been signed between cryptocurrency-related companies and Formula 1 teams. Alpine recently announced a partnership with Binance, but Mercedes, McLaren, Alfa Romeo, and Aston Martin all already have ties to companies in the sector.<\/p>\n
Red Bull is doing exceptionally well, very well indeed. With a contract estimated at 150 million dollars over 3 years, the Austrian team, which has just won the drivers’ championship with Max Verstappen, is setting a record right after signing a title sponsorship contract with Oracle.<\/p>\n
The Bybit logo prominently appears on the racing car, on the wings and side pods.<\/p>\n
The company plans to create a token for Red Bull fans and enhance digital engagement with the F1 team.<\/p>\n
According to the press release, this contract is the largest ever signed to date between a sports team and a cryptocurrency platform. Despite being created in 2018, the brand Bybit has not yet reached 4 years of existence.<\/p>\n
\n\ud83c\udfc1 A new chapter begins.<\/p>\n
\ud83d\udce3 Announcing our partnership with 4x World Champions, Oracle Red Bull Racing @Red BullRacing<\/a>!<\/p>\n
\ud83c\udfce A next level partnership \ud83d\udcaa #RaceToTheNextLevel<\/a> #F1<\/a> pic.twitter.com\/YGbPKtSddY<\/a><\/p>\n