• With this deal, Sui will roll out a collection of digital experiences for race followers.
• On the time of writing, the SUI token was buying and selling 1.07% decrease at $0.9587.
• Oracle Purple Bull Racing lately entered into a number of cryptocurrency partnerships, together with one with Bybit.

Sui Blockchain, which launched its mainnet in early Might 2023, at this time signed a multi-year partnership settlement with Formulation 1’s Oracle Purple Bull Racing crew. The deal makes Sui the blockchain accomplice for his Oracle Purple Bull Racing crew.

Sui’s mum or dad firm, Mysten Labs, is well-known as it’s one in all two spin-offs from Meta Platform’s Diem challenge. Mysten’s sister firm is his Aptos Labs, well-known for the Aptos (APT) cryptocurrency.

When the Sui Community mainnet launched, main cryptocurrency change UPbit introduced that it might record two SUI pairs: BTC/SUI and KRW/SUI.

SUI value response

As we speak’s partnership announcement is predicted to present some enhance to the SUI token’s value, which has been on a downward development since hitting an all-time excessive of $1.72 on Might 3, 2023, shortly after its mainnet launch. .

The token has misplaced 78.75% of its worth over the previous month.

Purple Bull’s foray into the cryptocurrency business

This isn’t the primary time Purple Bull has signed a cryptocurrency deal. Final yr, the F1 racing crew signed a $150 million cope with Bybit, a derivatives cryptocurrency change that lately expanded into cryptocurrency lending.

Nevertheless, Oracle Purple Bull Racing Group Principal and CEO Christian Horner commented on the cope with Sui Blockchain:

“Oracle Purple Bull Racing has been an early adopter of blockchain know-how in Formulation 1 and partnering with Sui will make that have even higher, simpler, safer and extra participating to entry.”

The Purple Bull crew mentioned Sui Blockchain will launch a collection of digital experiences for race followers within the coming months.