Oracle Red Bull Racing, Bybit, and Chiru Labs collaborate: Azuki becomes the first-ever NFT displayed on an F1 car

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In Brief

Red Bull Racing teamed up with NFT platform Bybit and NFT studio Chiru Labs to launch NFTs.

Azuki #8494, Lei the Lightning Azuki, is featured on race cars driven by Max Verstappen and Sergio Perez.

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azuki f1
Source: Oracle Red Bull Racing

F1 racing team Oracle Red Bull Racing, NFT marketplace Bybit, and Chiru Labs, the creator of Azuki, are coming together to launch an F1-themed NFT collection on the Tezos blockchain. On top of that, Lei the Lightning Azuki becomes the first NFT to be featured on a Formula One race car.

The Azuki #8494 will be displayed on the Oracle Red Bull Racing racecars driven by Max Verstappen and Sergio Perez at the Abu Dhabi Grand Prix on November 18.

“The nature of our sport means we are always pushing boundaries, and to be the first to put a blue-chip NFT on an F1 car is a tremendous feat. Our partnership with Bybit and Azuki has been an ideal way to help us explore the Web3 world. In many ways, it’s been an eye opener for us to the vast opportunities Web3 has to offer,” Christian Horner, CEO of Oracle Red Bull Racing, commented on the news.

Users can claim 8,494 NFTs for free on a first-come, first-served basis on the Bybit NFT marketplace. Pre-registration (for the 7,700 available NFTs) starts on November 17 at 9 a.m. UTC and ends on November 19 at 8 p.m. UTC. The NFTs are free-to-mint on the NFT platform from November 20 at 9 a.m. UTC. In addition, fans will have the opportunity to win a limited edition NFT of Lei the Lightning Azuki.

Following the announcement, Azuki saw a 302% increase in sales volume in the last 24 hours. The current floor price of the collection is 9.94 ETH, a 65% decrease from its peak in May (29 ETH). 

In June, the exclusive F1 Amber Lounge launched a collection of 1,888 invite-only NFT memberships for GP after-party attendees.

Last month, Formula One filed trademarks for cryptocurrency, NFTs, crypto marketplaces, retail stores for virtual goods, and blockchain financial transactions. But so far, we can only guess what the next move for F1 will be.

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Agne Cimermanaite

Agne is a journalist and writer with a background in literature, culture, and arts. She entered the Web3 space in 2021 and began writing about cryptocurrency and NFTs. Agne is passionate about technology and storytelling and is always on the lookout for exciting stories.

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