Oracle Red Bull Racing, in collaboration with its Principal Team Partner, Bybit, and Azuki creator, Chiru Labs announced that they will feature an NFT on their livery for the first time in F1's history. According to fresh reports, Red Bull Racing has entered into an agreement with cryptocurrency exchange Bybit as a principal team partner in February 2022.
The development is being considered as major milestone for Oracle Red Bull Racing, and its partners Bybit and Chiru Labs, and Formula One fraternity as this will be the first such occasion in the motorsports when a team will feature an NFT on their cars.
According to a report published in Colintelegraph, exchanged logos will be exhibited with Lei the Lightening Azuki, an NFT artwork and character based on anime inspired Azuki collection.
The report further confirmed that original Lei Azuki is one of 10,000 NFTs from the collection. Lei the Lightning Azuki builds upon the IP of Azuki #8494 which is an original Azuki from the anime-inspired collection created by Chiru Labs, and it symbolizes the transcending of the real and virtual worlds.
Meanwhile, Christian Horner, the Team Principal and CEO of Oracle Red Bull Racing has stated that the nature of motorsports is such that it’s important to keep pushing boundaries, and to be the first to put a blue-chip NFT on a Formula One car is 'tremendous feat.'
"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," said Christian Horner, Principal Red Bulls Racing.
"This is a unique piece of artwork and a timeless moment. We anticipate exciting things from this unique collaboration and Lei the Lightening Azuki. He is 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," added Christian Horner.