- Partnership between Gate and Red Bull Racing.
- Win F1 viewing seats and GT tokens.
- Gate replaces Bybit in F1 sponsorship.
The partnership signifies a strategic move by Gate to engage users through F1, blending sports with crypto incentives.
The “Red Bull Racing Tour” involves Gate, a prominent digital trading platform, and Oracle Red Bull Racing, a leading Formula One team. The collaboration invites fans globally to win F1 seats and share a 5,000 GT prize pool.
The alliance marks Gate’s debut into Formula One, overtaking Bybit’s previous partnership valued at $50 million annually. The move aims to continue pushing the boundaries of fan interaction through technological innovation. Christian Horner, CEO and Team Principal, Oracle Red Bull Racing, remarked, “We are very excited to welcome Gate.io to the team. Gate.io are a brand that very much share Oracle Red Bull Racing’s passion to exist at the forefront of technological innovation. Together, we look forward to building a more immersive and unique connection with the team for fans around the world and to working with a like-minded partner that isn’t afraid to disrupt the status quo.”
The partnership chiefly impacts the GateToken (GT), cited as the primary asset for rewards. The event aims to boost trading volumes and GT utilization on the platform.
No official statements on regulatory matters have been released, yet the partnership aligns with the industry standard for sponsorship compliance. Historical precedents highlight short-term engagement spikes in similar events.
As Gate embarks on this high-profile partnership, it aims to bolster its market presence by aligning with globally recognized racing brands, leveraging innovative opportunities in the digital asset landscape. The focus remains on engaging users and enhancing the platform’s utility through this collaboration.
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