Formula One team Oracle Red Bull Racing has introduced an exclusive non-fungible token (NFT) collection to mark the conclusion of the racing season.
Teaming up with cryptocurrency exchange Bybit and Sui, a Layer 1 blockchain platform, the limited-edition series serves as a commemoration, spotlighting key achievements and standout moments from the season.
The collection comprises three designs: P1, the rarest, honoring Oracle Red Bull Racing’s 21 first-place victories; P2 celebrating the team’s most top-two podium finishes; and P3 symbolizing a record-breaking year.
These NFTs will be distributed randomly and can be claimed for free until December 19, 2023, through a dedicated webpage.
Following this release, the team plans to unveil additional NFT collections in 2024, as indicated on the official website.
Notably, this isn’t the first foray into the NFT space for Oracle Red Bull Racing. In November 2022, the team partnered with Bybit and Chiru Labs, the creator of Azuki, to introduce NFTs on the team cars during the season finale in Abu Dhabi.
Interestingly, Formula One as a whole is embracing Web3 technologies. In 2022, the organization filed eight trademark applications for “F1” related to NFTs, metaverse, and crypto. Furthermore, Platinium Group, the primary ticket issuer for Formula 1 events, revolutionized the ticketing experience in May by introducing NFTs for race tickets, starting with the Monaco Grand Prix.
