Red Bull Follows F1 Red Bull Racing into the Metaverse

Key Insights:

• Red Bull could blow the door open on extreme sports by going Metaverse.
• Following the Red Bull F1 Racing Team deal with Bybit, Red Bull plans to give sports fans more than just wings.
• With more big names entering the Metaverse, it could be a breakout year for the big names that get ahead of the curve.

Last month, F1 Oracle Red Bull racing signed a 5-year deal with crypto exchange Bybit. Following the footsteps of the world’s most famous football teams, including Barcelona, Red Bull Racking is looking to build fan engagement by issuing Oracle Red Bull Racing fan tokens.

Crypto exchange Bybit tracks the world’s largest platforms, including Binance, Cronos, and FTX, in raising brand awareness through sport.

Red Bull Files Metaverse-Related Trademarks

Today, trademark attorney Michael Kondoudis announced Red Bull’s plans to go NFT and enter virtual reality on Twitter.

VIrtual energy drinks?

RED BULL has filed a trademark application signaling plans to offer:

1. Multimedia with NFTs
2. Virtual + cryptocurrencies
3. Virtual clothing, drinks, and sports gear
4. Virtual environments
5. Financial exchange services#NFTs #Metaverse #Web3 pic.twitter.com/2e35Ps46Tk

— Mike Kondoudis (@KondoudisLaw) March 8, 2022

The trademark application points to several virtual offerings, including:

• Multimedia with NFTs
• Cryptos + Virtual
• Clothing, drinks, and sports gear
• Virtual environments
• Finance exchange services

The broad-based filing suggests a possible Red Bull zone in the Metaverse, where fans can buy drinks, clothing, and equipment and engage in well-known Red Bull-sponsored adrenaline-sports activities.

Red Bull fans entering the Metaverse could have access to a Red Bull crypto to purchase goods and services. As we have seen elsewhere, NFT holders may be able to redeem NFTs for real-life events and attend concerts and sporting events virtually.

In sport, Red Bull is a major sponsor in conventional sports, including F1, NASCAR, Basketball, and Soccer.

While conventional sports have become a mainstay, Red Bull has been synonymous with extreme sports. BMX & skateboarding, cliff diving, freestyle skiing, and mountain biking form part of Red Bull’s Extreme Sports annual calendar.

For sports fans, the Metaverse would allow fans to engage with athletes and be present at events and even be virtually active at Red Bull’s more extreme sports events alongside cliff divers and freestyle skiers.

Red Bull Follows Other Major Brands into the Metaverse

Since late 2021, the Metaverse has become more than just a consumer pipedream. As borders reopen in the wake of the COVID-19 pandemic, the Metaverse offers an alternative to in-person entertainment.

Increased investment in NFTs and the Metaverse means consumers no longer need to be in person at events. Art, fashion, film, music, sport, and more have taken a step closer to entering virtuality.

The opportunities are endless. Appropriate regulatory oversight could change the shape of the world as we know it.