In February of the year 2022 Red Bull Advanced Technologies began to make big decisions around its technological development, with strategies such as the inclusion of Oracle Cloud Infrastructure, for projects in the evolution of engines, training of brokers and Esports teams. From the union of both companies a new team was presented, which now works under the name of Oracle Red Bull Racingwith new cars and analytical and training strategies that include artificial intelligence.
Once this new alliance was consolidated, the company decided to go further and start a true path to innovation, partnering with a cryptocurrency exchange. Bybit as main partner Oracle Red Bull Racing means that Formula 1 is making its way to the pinnacle of digital and technological development, beyond its engines and drivers. Never seen before, this becomes the largest annual sponsorship of cryptocurrencies in international sports and especially in formula one.
The universe of cryptocurrencies now belongs not only to the sphere of economics and finance, but begins to get involved in all activities of the global population, including sports. The Singapore-based exchange stated through its website that this partnership defies all odds and also said that “Oracle Red Bull Racing and Bybit are ready to roll off the starting line and reveal a series of cryptocurrency-inspired initiatives that will help you.” they will take from zero to 100 in the race of technologies and digital assets”.
According to informants close to the racing team, the contract signed by the two companies exceeds $150 million, and will cover a period of three years, where the association between Bybit and Oracle Red Bull Racing will be exclusive. This new union proposes strategies through the issuance of tokens for fans, both of formula one and of cryptocurrencies. This alliance between speed racing and virtual currencies promises to be exciting and exciting for those interested.
The alliance does not only intend to distribute crypto assets among fans through an immersive experience, but also has initiatives around sustainability and green technology, diversity and inclusion, supporting women in the development of blockchain. All these goals show a search for innovation, which wants to go beyond normal standards and parameters. In this regard Igneus Terrenus, belonging to the Bybit company, maintained that “The sport captures the best of innovation, technology and value, and is based on the principle of competition and precision. Red Bull Racing is the standard bearer of the best Formula One performances. This pairs well with Bybit’s enthusiasm for engineering and craftsmanship in delivering high-speed, high-volume, high-performance crypto products and experiences.”
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