Red Bull Racing has secured a $150 million sponsorship deal with a Singapore-based crypto trading platform, Bybit, following their recent victories in Formula One racing. The three-year deal is worth $50 million per year and will be paid in a combination of currency and Bybit’s native tokens. This collaboration aims to increase fan interaction by utilizing Bybit’s crypto exchange capabilities. As part of the partnership, Bybit will issue fan tokens and serve as a digital incubator for Red Bull Racing. The video also mentions a free ebook on cryptocurrency and provides tips for getting started, which can be found in the description. This sponsorship deal highlights the growing trend of cryptocurrency in sports sponsorships and demonstrates the potential for increased engagement with fans through crypto exchange platforms.
