The high-speed blockchain and smart contract network was signed on by energy drink giant Red Bull’s racing unit.
May 20, 2021 at 7:00 pm UTC · 1 min read
Red Bull Racing (RBR) has signed on Tezos, the world’s 42-largest blockchain by market cap, as its Official Blockchain Partner, as per a release this morning.
Teaming up with the world’s most advanced blockchain 👊 Announcing a new multi-year technical partnership with @Tezos as our Official Blockchain Partner.
— Red Bull Racing Honda (@redbullracing) May 20, 2021
The partnership would see the four-time Formula 1 driver’s build out its first-ever non-fungible token (NFT) fan experience for fans and users.
With Grand Prix fans still impacted by the global pandemic, the RBR Team is constantly looking to provide new, unique and immersive experiences as part of its fan engagement platform, and NFTs help provides just that.
“Designed to self-upgrade, Tezos’ ability to remain at the cutting edge of blockchain technology makes it a natural fit for Red Bull Racing Honda,” said RBR principal Christian Horner, OBE, in a statement.
He added, “Crucially, its energy-efficient design also matches our own long-term future environmental ambitions, and as Formula One moves towards carbon neutrality, the low-impact methodology pioneered by Tezos will be a valuable asset.”
RBR pointed out “performance” and “energy-efficient design” as the two features which proved key in Red Bull Racing Honda’s selection of Tezos.
Hubertus Thonhauser, chair at Tezos Foundation, said the team was excited with RBR’s decision to select Tezos as the exclusive platform for this partnership and we are looking forward to welcoming them into the fast-growing ecosystem of brands building NFT platforms on Tezos.
“The Tezos blockchain is designed to evolve and adapt, doing so with security and performance in mind and in the most efficient ways possible. These principles are perfectly mirrored in the Red Bull Racing Honda team, and this is why we believe this to be a winning partnership,” Thonhauser said.
Get an edge on the cryptoasset market
Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.
Join now for $19/month Explore all benefits
Like what you see? Subscribe for updates.