Sui Blockchain Signs Multiyear Deal With Red Bull Racing

Sui, whose blockchain went unrecorded little than a period ago, has signed a multiyear woody to go the blockchain spouse of Formula One's Oracle Red Bull Racing team. The blockchain's autochthonal token (SUI) roseate by 1.7% earlier receding connected the news.

This is not Red Bull's archetypal foray into the crypto industry. Last twelvemonth it signed a $150 cardinal deal with derivatives speech Bybit. The squad said Sui volition rotation retired a series of integer experiences for racing fans implicit the coming months.

Sui's token was issued connected May 3 and debuted astatine $1.35 aft earlier being sold astatine betwixt $0.03 and $0.10. It is presently trading astatine $0.97.

“Oracle Red Bull Racing was an aboriginal adopter of Blockchain exertion successful Formula 1," Oracle Red Bull Racing Team Principal and CEO Christian Horner said. "Partnering with Sui volition elevate that experience, making entree easier, much unafraid and engaging.”