Cryptocurrency exchange Bybit is the Principal Team Partner of the famous Oracle Red Bull Racing Formula 1 team.
Red Bull and the relationship with cryptocurrencies
A few weeks ago it launched the #BybitLevelUpChallenges initiative, during which the two Red Bull drivers, Max Verstappen and Sergio “Checo” Pérez, answer some questions about their profession and cryptocurrencies.
🏁 Ready to be a #crypto-racing pro? Check out these terms to put you in pole position!
— BYBIT 🦍 (@Bybit_Official) May 5, 2022
A few days ago, the second video was released in which the two drivers try to give their definitions of some crypto slang terms, such as “gas fee,” “when Lambo,” “ATH,” “HODL” and so on.
This is the second in a series of videos being posted on the exchange’s official YouTube channel.
The initiative is meant to be a kind of beginner’s guide aimed at crypto-curious Formula 1 enthusiasts, exploiting two celebrities such as Pérez and Verstappen (reigning champion) to attract their attention.
Bybit and Formula 1
To this end, Bybit created the Crypto-Racing Dictionary to help Formula 1 fans understand the most important terms in the crypto world.
Bybit has become an exclusive Principal Team Partner of Red Bull just this 2022, as well as a Fan Token Issuance Partner and Tech Incubator. It also promises exclusive content to Red Bull fans available only on Bybit Race Insider.
The exchange was established in March 2018 as an ultra-fast professional platform with the goal of also providing excellent customer service. In addition to spot markets, it also offers derivatives exchanges, mining and staking services, an NFT marketplace, and APIs for retail and institutional clients.
In addition to Oracle Red Bull Racing, it is also a partner of the eSport teams NAVI, Astralis, Alliance, Virtus.pro, and Oracle Red Bull Racing Esports, as well as the soccer teams Borussia Dortmund and Avispa Fukuoka.
By now, the relationship between sports and cryptocurrencies is becoming increasingly close and pervasive, so much so that not only are more and more teams issuing their own fan tokens, but also more and more are entering into business partnerships with crypto companies, or sponsorship contracts.