Sui Network, the blockchain supported by Mysten Labs, recently made public its multi-year alliance with the Red Bull Formula One Racing Team.

The June 1st announcement revealed that Sui Network will serve as the official blockchain partner for the respected racing team, whose next race is slated for June 4th in Spain. 

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As part of the collaboration, Sui Network is set to offer “immersive digital experiences” for Formula One team’s dedicated fans over the coming months. 

Greg Siourounis, the Sui Foundation managing director, stated that the main objective of this partnership was to “demonstrate how Web3 enables human connections.”

When talking about the partnership, Oracle Red Bull Racing Team Principal and CEO Christian Horner stated:

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.

This exciting news comes hot on the heels of the blockchain’s mainnet launching last month. In May, the network, built on the Rust-based programming language Move, came alive, leading to Binance offering trading pairs for the SUI token.

Last year, Red Bull’s Formula One Racing team signed a whopping $150 million sponsorship agreement with cryptocurrency exchange Bybit.

With this strategic partnership, both the Sui Network and the Red Bull Formula One Racing team look to explore new horizons and make advancements in their respective sectors, fuelled by the potential of the blockchain and the adrenaline of racing.