From Mercedes F1 to Miami Heat, Sports Teams Suspend FTX Sponsorships

November 13, 2022 Bitcoin.com

Formula One Team Haas F1 to Mint Branded NFTs With Opensea

November 4, 2022 Bitcoin.com

Red Bull Racing scores $150M sponsorship with Bybit

February 16, 2022 Coin Telegraph

Bybit

Formula One team Red Bull Racing scores a multi-year partnership worth $50 million per annum with crypto exchange Bybit.

Following Red Bull Racing's most recent wins at Formula One (F1), the racing team scores a three-year partnership with Singapore-based crypto trading platform Bybit for $50 million per year. According to the announcement, the fee will be paid in a combination of fiat and BitDAO (BIT) tokens.

The company announced that the partnership aims to broaden the F1 team's fan engagement through its capabilities as a crypto exchange. Bybit will act as an issuer of fan tokens and as a tech incubator for Red Bull Racing as part of the deal. This means that the exchange will help the team distribute its digital asset collections and support its other initiatives, such as developing talent through the Red Bull Technology Campus in Milton Keynes.

A new chapter begins.

Announcing our partnership with 4x World Champions, Oracle Red Bull Racing @RedBullRacing!

A next level partnership #RaceToTheNextLevel #F1 pic.twitter.com/YGbPKtSddY
— BYBIT (@Bybit_Official) February 16, 2022

Red Bull Racing's CEO Christian Horner expressed his excitement for the partnership. According to Horner, Bybit shares the team's "passion to exist at the forefront of technological innovation, to set the competitive pace and to disrupt the status quo." He is also very delighted with Bybit’s commitment to enhancing the experience of F1 fans through innovations in the digital space.

Following this, Bybit's cofounder and CEO also commented that their crypto exchange team connects with the core values of Red Bull Racing and how they changed the F1 game similarly to how digital assets are disrupting finance. Zhou says that Bybit has found our kindred spirit and the perfect harmony of speed, safety and reliability is everything our users are looking for on our platform."

A week ago, Bybit partnered with ramp service Cabital to offer crypto purchases using Euro (EUR) and British pound sterling (GBP). With this ramp infrastructure, Bybit’s users can purchase crypto within their exchange platform with lower gas fees.

Formula 1 Secures Multimillion Crypto Sponsorship Deal

June 30, 2021 Bitcoin.com

DOGE dumps as Dogecoin-sponsored NASCAR driver crashes

June 21, 2021 Coin Telegraph

Coin Telegraph

The Dogecoin-themed race car that crossed the finish line sideways after hitting a wall on Saturday appears to have served as the perfect metaphor for DOGE’s weekend performance.

A Dogecoin-donned race car hit a wall in spectacular fashion over the weekend as DOGE fared much the same in the markets.

Saturday’s National Association for Stock Car Auto Racing (NASCAR) Xfinity Series Race in Nashville ended in disaster for the Dogecoin sponsored car, with the DOGE-emblazoned Chevrolet Camaro driven by Stefan Parsons smashing into the wall on lap 70.

The #dogecar has crashed.

TV: NBCSN pic.twitter.com/eCb1PosOI3
— NASCAR on NBC (@NASCARonNBC) June 19, 2021

The faithful fans of the meme cryptocurrency had been revved up for the race, with the #dogecar hashtag trending on Twitter in the lead-up to the June 19 event. Photos of the number 99 race car featuring the iconic Shiba Inu plastered across the vehicle’s hood were shared with gusto.

However, as a result of the accident, the Dogecar finished the event in last place. Despite the loss, Dogecoin’s supporters were grateful for the coverage.

#Dogecar crashed early but gave us a great view crossing the finish line sideways. Got lots of airtime! pic.twitter.com/ocfG7f9UmH
— Michael King #Dogearmy #Dogecoin (@mandm159) June 19, 2021

Dogecoin itself has not fared so well either, dumping 14% over the weekend in a fall from roughly $0.30 to a Sunday low of nearly $0.26. DOGE has lost 30% over the past fortnight and is currently down 64% from its all-time high of $0.73 on May 8.

Saturday’s race was not the first time Dogecoin’s famed cartoon pooch has found its way onto the hood of a NASCAR vehicle, with driver Josh Wise raising $55,000 in DOGE donations on Reddit to fund his entrance in 2014. When Josh Wise ran the scheme, he was driving the Number 98 car for Phil Parsons Racing.

The sponsorship deal for the car that raced this past weekend was announced in early March by BJ McLeod Motorsports. Driver Stefan Parsons, whose father owned the racing team for the first Doge sponsored race car back in 2014, stated:

“Having the opportunity to run a scheme that has an incredible story from my Dad’s race team is something I am so proud to do,”

In related news reported by Cointelegraph, Xfinity Series driver Landon Cassill agreed to receive part of his salary in Bitcoin and Litecoin as part of a sponsorship with crypto broker Voyager.

Voyager finalized a 19-year agreement to sponsor Cassill starting with the weekend’s race at the Nashville Superspeedway. Cassill confirmed the company would pay for the deal entirely with a “portfolio of various digital assets.”

Beer and horses? Combination takes to the digital space with branded NFTs

June 15, 2021 Coin Telegraph

beer

Is this the 21st-century crypto-themed update to "bread and circuses"?

The United Kingdom arm of pilsner beer brand Stella Artois is partnering with a digital horse racing game to release a series of nonfungible tokens (NFTs).

In a Tuesday announcement from Stella Artois’ U.K. brewery, the beer brand said users of the digital racing game Zed Run would now be able to bid on Stella Artois-themed skins for their favorite horses. Beginning Tuesday and running until Saturday, crypto users can bid on 50 digital packages featuring nonfungible tokens of the racehorses and original Stella art, as well as the branded skins.

The auctions for the skins, horses, and beer artwork are available on OpenSea's digital marketplace. At the time of publication, the highest bid on one of the pieces is 1.05 Wrapped Ether (WETH) — roughly $2,687.

*Digital racehorse with branded skin. Source: Stella Artois*

Built on the Ethereum blockchain, Zed Run has offered an alternative to in-person horseracing events at a time when many venues are still closed to spectators due to the COVID-19 pandemic. Players can earn returns by digitally breeding and racing the animals.

“While for some the term ‘metaverse’ is still something of an unknown, this virtual world is exploding right now and looks set to change the way we all engage in digital experiences forever,” said Lindsey McInerney, the global head of tech and innovation at Budweiser Brewing Group, the parent company of Stella Artois.

Many in-person horseracing events in England were closed to spectators during the lockdowns carried out in response to the pandemic. Though the government announced earlier this year that it was possible for venues to have crowds at pre-pandemic levels starting on June 21, the emergence of the COVID-19 Delta variant is making that look unlikely, according to a recent statement from Prime Minister Boris Johnson.

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