Updated (Dec. 17, 2022): Blockchain company Tezos decided not to renew their contract with Red Bull Racing (RBR) as it no longer aligns with the current strategy of the company.
Tezos, the independent blockchain for building blockchain dApps, has decided not to renew their partnership with the prestigious Oracle Red Bull Racing partners. Tezos became an official partner of this giant motorsports racing team on May 21, 2021.
In an article put out by Red Bull Racing announcing the partnership, it looked like it was going to be a multi-year partnership. Tezos now has reconsidered their partnership.
Mason Edwards, the Chief Commercial Officer of the Tezos Foundation quoted to Blockzeit: “The Tezos Foundation decided not to renew its agreement with Red Bull Racing as it was no longer in line with its current strategy.”
Red Bull Racing and Tezos
Tezos is a decentralized platform for building and using blockchain-based applications, created in 2014 by Arthur and Kathleen Breitman. Red Bull Racing, on the other hand, is a Formula One racing team in the United Kingdom . It belongs to the Austrian beverage company, Red Bull.
Currently one of the top teams in the sport, Red Bull Racing joined forces with Tezos in May 2021 with the hopes of launching a first-ever NFT experience for its fans. Many have had differing opinions about why the partnership came to an abrupt end. Here are some:
# Completed Partnership Purpose
Some think that Tezos finished the task for which they entered the partnership and hence, the deal came to a close. This notion is due to the fact that in early November 2022, the Red Bull Racing team released their NFTs on the Tezos blockchain.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.