Mysten Labs' Sui Network partners with Red Bull F1 team

The Red Bull team signed a $150 million sponsorship deal with cryptocurrency exchange Bybit in 2022, before the market crash and major bankruptcies in the sector.

Mysten Labs' Sui Network partners with Red Bull F1 teamNEWS

Sui Network, backed by Mysten Labs, has announced a multi-year partnership with the Red Bull Formula One team less than a month after the blockchain mainnet was activated.

On June 1, Sui announced that it would be the official blockchain partner of the team, which will compete in Spain on June 4. Greg Siourounis, CEO of the Sui Foundation, said the partnership aimed to "demonstrate how web3 enables human connections," while the announcement suggested "immersive digital experiences" for fans in the coming months.