Oracle Red Bull Racing announces Sui as blockchain partner

Sui, which debuted in May, is a first-of-its-kind Layer 1 blockchain and smart contract platform.

Oracle Red Bull Racing, one of the top racing teams of Formula 1, has announced a multi-year sponsorship agreement with the Sui network, which is backed by an innovative software company, Mysten Labs.

The deal has been inked to expand on the Sui network, which will become the F1 team’s official blockchain partner, taking its interaction with fans across the world to the next level.

Sui, which debuted in May, is a first-of-its-kind Layer 1 blockchain and smart contract platform that enables on-chain experiences that keep users fully invested while also creating dynamic, composable, and inventive on-chain assets.

Oracle Red Bull Racing did significant market research to identify a blockchain that will enable race fans to engage in imaginative new ways. Sui will engage fans with Oracle Red Bull Racing via a widening range of interactive digital experiences available to a worldwide audience.

Oracle Red Bull Racing Team Principal and CEO Christian Horner, said, “Oracle Red Bull Racing was an early adopter of Blockchain technology in Formula 1, recognising its potential to connect fans all over the world with the team in a truly unique and forward-thinking way. Partnering with Sui will elevate that experience, making access easier, more secure and engaging.”

Evan Cheng, Co-Founder and Chief Executive Officer of Mysten Labs, said, “The potential of blockchain technology to fundamentally change the way humans transact, interact and communicate is enormous. We are extremely pleased to match Sui’s best-in-class performance with Oracle Red Bull Racing. With this partnership, we can demonstrate the true power of blockchain technology, to build communities around novel and ground-breaking connected experiences.”

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