Red Bull Racing Cars To Adorn Nft

18 Nov 2022 | Tom Barwick

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Formula 1 team Oracle Red Bull Racing and its principal team partner Chiru Labs – the creator of cryptocurrency exchange Bybit – have collaborated to launch a Non-fungible token (NFT).

This move will see the Milton Keynes-headquartered team present a Tezos-based NFT on its team cars for the season finale in Abu Dhabi, the first time a blue-chip NFT has ever adorned a Formula 1 race car or taken part in a race.

The specific NFT collection in question, Lei the Lightning Azuki, is an anime character that will appear alongside both Red Bull drivers, Max Verstappen and Sergio Perez as they chase a final victory of the season.

The limited-edition Lei the Lightning Azuki NFTs will be themed around the character and will be offered free to fans on a first-come-first-served basis.

Red Bull has worked alongside three companies to bring the project together. This includes cryptocurrency exchange Bybit and Chiru Labs, a business that creates decentralised brands ‘at the intersection of art, technology, and culture’.

Tezos, an open-source blockchain that has become one of the top platforms for artists and NFTs, has provided to infrastructure for the NFTs.

Christian Horner, Team Principal and CEO, Oracle Red Bull Racing said, “The nature of our sport means we are always pushing boundaries, and to be the first to put a blue-chip NFT on a F1 car is a tremendous feat. Our partnership with Bybit and Azuki has been an ideal way to help us explore the Web3 world. In many ways, it’s been an eye opener for us to the vast opportunities Web3 has to offer.

This unique project is the perfect combination of creativity, innovation, and passion which matches our ethos on the track.”

Ben Zhou, Bybit co-founder and CEO, added, “This is a unique piece of artwork and a timeless moment. We anticipate exciting things from this unique collaboration and Lei the Lightning Azuki. He’s such a striking character and a bridge linking the racing, crypto, and NFT communities. We know they are all going to jump at the chance to own a piece of history.”