Red Bull Formula 1 team drops NFTs after dominant season

With two drivers atop the 2023 Method 1 standings, Purple Bull’s racing staff is dropping a group of digital collectibles to commemorate its dominant yr.

Drivers Max Verstappen and Sergio Pérez ranked primary and two this yr respectively, which additionally made Purple Bull the clear chief amongst all different groups. The staff is issuing NFTs to assist followers bear in mind the profitable yr.

“The launch follows probably the most profitable yr in historical past for Oracle Purple Bull Racing who set data for many championship factors in a single season,” Purple Bull mentioned in an announcement. “The collectibles will function distinctive artwork designed by Automobilist, an award-winning design studio with people enthusiastic about creating designs and artwork round all issues motorsport. The NFTs will probably be obtainable by way of Bybit.com.”

Sports activities lovers have for a number of many years collected memorabilia and collectibles that they both treasure or maybe later promote. Lately, the push to deliver the pastime into the digital age has attracted numerous huge identify sports activities leagues and gamers inside web3, together with NBA High Shot from Dapper Labs and Sweet Digital’s Main League Baseball NFTs.

Seeing ‘actual’ worth

Purple Bull’s NFTs are being minted on Sui, the blockchain developed by Mysten Labs. The Method 1 racing staff and Mysten Labs solid a partnership earlier this yr.

“It is necessary that we proceed to interact and join with followers all over the world in new and revolutionary methods,” Dan Mitchell, senior advertising and marketing supervisor at Oracle Purple Bull Racing mentioned in an announcement. “We see actual worth in utilizing Web3 applied sciences comparable to NFTs within the type of digital collectibles.”