Bybit, a leading crypto exchange, took home the Best NFT Marketplace award at the Middle East Blockchain Awards held in Abu Dhabi on 18th November. The award show was organized by Arabian businesses and highlights the leaders in the blockchain industry, service providers, entrepreneurs, and innovators.
Bybit was selected based on metrics including development, fee structure, and popularity. The platform is also the third most-visited crypto exchange scoop during this year’s Blockchain Expo event in Abu Dhabi.
The award hopes to highlight Bybit as a leader in its field and inspire others to follow suit. It also aims to encourage innovation within the industry while promoting best practices.
Bybit Innovation in Blockchain Industry
The NFT marketplace won Best NFT Marketplace at the Abu Dhabi Formula One season finale last week—the first time a blockchain firm has won such an award in the Middle East.
But it wasn’t just Bybit who was making history. Abu Dhabi hosted the Formula One season finale, which featured Oracle Red Bull Racing and Azuki creator Chiru Labs.
Each of the Oracle Red Bull Racing cars was imprinted with the NFT inspired by Azuki. The artwork was Lei the Lightning Azuki, a character from the anime-inspired Azuki collection, which featured alongside Bybit’s logo on the cars.
But that’s not all! Bybit formed partnerships with Oracle Red Bull Racing and Chiru Labs to help spread awareness about crypto and blockchain technology throughout Abu Dhabi and beyond.
Bybit remained in the spotlight when it partnered with Formula One to make history as the first NFT marketplace to be featured on the logo cars in Abu Dhabi.
The original Lei Azuki NFT is one of 10,000 NFTs in Bybit’s collection, currently listed on OpenSea.
Bybit’s partnership with Formula One represents how far Web3 has come since its inception. It also signifies the growing presence of Web3 in the premier motor racing league in the world.
Bybit Partners with Red Bull Racing
Bybit has partnered with Red Bull Racing to become the first team principal partner for the Formula One team.
The partnership comes when Bybit is also working on an NFT marketplace that will allow users to trade in-game assets, which will be minted on the Tezos blockchain.
Red Bull Racing dominated the F1 season by clinching the constructors’ championship and Max Verstappen taking home the second consecutive driver’s championship.
Lei the Lightning Azuki, Red Bull Racing’s mascot and an avatar for the Red Bull brand, will be a limited edition NFT minted on the Tezos blockchain and available through Bybit’s NFT marketplace.
Red Bull Racing team principal Christian Horner acknowledged the growing connection between Web3 and Formula One.
The partnership between Bybit and Red Bull is an exciting new development for both companies, who have earned their reputations as innovators in their respective industries.
Mr. Horner said he was excited about the partnership because it brought vast opportunities for Web3. He said it was a unique project with the perfect combination of creativity, innovation, and passion that matches our ethos on the track.
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