Bitski taps Tezos blockchain to power Red Bull Guest at Miami Grand Prix

abdelaziz Fathi

San Francisco-based NFT platform Bitski has integrated Tezos’ high-performance blockchain to introduce Red Bull Guest House Keys during Red Bull’s first-ever NFT collection.

The alliance will help unlock special access and benefits to guests attending Red Bull Guest House at the Miami Grand Prix, celebrating the racing lifestyle and culture. The firm will put together a curated experience featuring dining and music, as well as visits from top Red Bull athletes and attendees who will have access to see the race live.

To commemorate this release, the tokens associated with the event will be airdropped to all Red Bull Guest House Miami guests and attendees. Minted on the energy-efficient Tezos blockchain, Red Bull Guest House Keys are supported by Bitski’s NFT technology.

Billing itself as the “Shopify for NFTs,” Bitski originally aimed to be the Venmo for cryptocurrency. However, the startup has shifted its focus in 2020 to the nonfungible tokens space. Bitski offers companies like Red Bull unique ways to connect with consumers by way of NFTs. Its tech stack also makes it easier for these brands to bypass the crypto complexity of joining the red-hot NFT business.

“Red Bull Guest House Keys incorporate elements of prestige and luxury and envision a new golden era of racing lifestyle. Keen observers will notice the references to podiums, flags, and keys in the custom artwork. The keys were sent via text to RBGH attendees, where recipients will be prompted to create a Bitski wallet to store their NFT ticket,” the press release reads.

The NFT ticket grants attendees access to each day of the Red Bull Guest House including a Golden Key that allows holders to pass from Friday to Sunday with access to a private bar. Additionally, the Friday Key features elements inspired by Miami’s Latin music heritage and the work of Colombian/Israeli visual artist and Art Director Orly Anan. Another one-day access to lasers, speakers, and other elements inspired by the intersection of electronic music and car culture is also available through the Saturday Key.

Tezos supported NFT initiatives by top-notch brands

RedBull Racing, owned by the leading energy drink company, has originally stepped into NFTs back in 2021 through the Tezos blockchain with a set of 5 collectibles. That said, Tezos has already launched and supported a number of NFT initiatives by top-notch real-world brands including Manchester United, McLaren Racing, and sporting goods retail leader Decathlon.

Tezos is a highly-scalable platform that supports smart contract functionality and the development of decentralised applications (Dapps). It uses a variant of the proof-of-stake protocol which offers token holders the opportunity to delegate their assets to a validator and earn staking rewards.

Tezos also applies a governance model that automatically evolves and upgrades itself to ensure stability. Among blockchain projects, Tezos’s consensus mechanism is touted to be one of the most energy-efficient and technically sound platforms.

As covered by FinanceFeeds recently, Tezos released in April the most significant upgrade of its Proof-of-Stake protocol to date. Codenamed “Ithaca 2,” the major ninth upgrade introduces a new consensus mechanism, Tenderbake, which brings several improvements. This includes so-called “near-instant finality,” which offers the absolute certainty that transactions cannot be reversed after two blocks.

Read this next

Retail FX

Overcharts partners with dxFeed for CME Group Market Depth

“More and more traders are using Market Depth while conducting volume analysis. Its primary function is to help traders identify potential support and resistance levels.”

Digital Assets

CoinGecko expands collaboration with CER.live security rating

CoinGecko, one of the earliest crypto data aggregators, has integrated the security score data from the CER.live rating. The trust assessments given to crypto projects will be integrated into their pages on CoinGecko website to draw users’ attention to the importance of security.

Metaverse Gaming NFT

Klaytn taps Parity Technologies to build infrastructure for Klaytn-Substrate

Klaytn has initiated a collaboration with blockchain infrastructure company Parity Technologies to strengthen its tech stack and meet the demands of enterprises looking to harness the crypto technology.

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

Retail FX

Interactive Brokers’ traders now have direct access to TradingView

Professional charting and trading platform, TradingView has integrated the US-listed brokerage firm Interactive Brokers as the latest online trading partner.

Digital Assets

This Web3 infrastructure provider is on the verge of a radical upgrade

The crypto industry fueled the anticipation of the arrival of web3 with the introduction of Decentralized Finance, Metaverse, and more. And today, that web3 is finding support from various developers looking to build and develop the space to extract the most benefits out of it.

Digital Assets

Crypto bots: trading assistant 

The cryptocurrency market is a volatile one, with huge gains and dramatic dips. However, the most informed traders can use automated tools to maximize profits while minimizing risks. 

<