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Mysten Labs’ Sui Network partners with F1 Red Bull racing team

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The Sui Community, backed by Mysten Labs, has introduced a multi-year partnership with the Crimson Bull System One Racing Workforce lower than a month after the blockchain’s mainnet went stay.

In a June 1 announcement, Sui Community said it will be the official blockchain companion of the racing group, scheduled to compete in Spain on June 4. Greg Siourounis, Managing Director of the Sui Basis, mentioned the partnership was geared toward “demonstrat[ing] how web3 allows human connections,” whereas the announcement instructed “immersive digital experiences” for followers within the coming months.

Mysten Labs stepped up work on the Sui community following Meta shutting down its Diem mission in 2022. The community, primarily based on Rust-based programming language Transfer, went stay on Could 3, prompting main crypto trade Binance to start out providing buying and selling pairs for the SUI token.

Associated: SUI mainnet goes live as token sees immediate action on Binance, OKX, others

In 2022, the Crimson Bull System One Racing Workforce signed a $150-million sponsorship deal with crypto trade Bybit. Nevertheless, the racing division of luxurious automobile producer Ferrari, introduced in January its System One group had cut ties with Velas Blockchain and chip manufacturing agency Snapdragon.

Journal: Billions are spent marketing crypto to sports fans — Is it worth it?