Sui Network Becomes the Official Blockchain Partner of Red Bull Racing

Godfrey Benjamin
June 1, 2023
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Layer-1 blockchain protocol Sui Network has announced that it has inked a partnership with Oracle Red Bull Racing, one of the most popular Formula One racing teams. Per the terms of the announcement, Sui Network revealed that as the blockchain partner, it is working with the team to develop immersive digital experiences that its fans around the world can enjoy.

The fusion of blockchain technology and the sporting world dates back to a few years ago. Oracle Red Bull Racing has been a particularly prominent F1 side with a very strong affinity for Web3.0 startups. In the recent past, it has tapped Singapore-based crypto exchange Bybit as one of its major sponsors.

As Formula One is a major sporting event that garners viewership around the world, Sui Blockchain will stand as a major beneficiary with massive publicity of the protocol to a global audience. While the partnership will undoubtedly give the protocol targeted benefits, it will also be of advantage to Oracle Red Bull Racing as it looks to gain a foothold in the Web3.0 world.

With blockchain technology here to stay, the adoption of this new technology can give the F1 side a competitive advantage over its peers. The alignment with the Sui Network will help propel it to the frontlines seeing the protocol is tagged as one of the most functional and scalable around today.

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Aligning the Sui Network and Red Bull Linking

The deal between both Sui Network and Oracle Red Bull is a multi-year partnership that will see the former showcase how the emerging technology and innovation embedded in blockchain can be used to foster productive human interactions as detailed by Dr. Greg Siourounis, Managing Director of the Sui Foundation.

Sui Network was launched recently in a bid to put a permanent stop to the inherent challenge of scalability rocking the crypto ecosystem. The protocol was floated by Mysten Labs, a tech team that is composed of majorly Meta Alumni. With broad experiences brought from designing the Libra/Diem project that never saw the light of day, the team joined hands to launch Sui and power a related vision as that of Diem.

The visibility that the Red Bull Racing team will give the protocol may be a huge compliment to its career advancement.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.