DUBAI, UAE, April 10, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, and Oracle Red Bull Racing (ORBR), the Formula One™ World Champions, are thrilled to announce the highly anticipated return of their groundbreaking NFT collaboration – Velocity Series 2.0.
Building on the phenomenal success of the inaugural series in 2023, Velocity Series 2.0 pushes the boundaries of digital art by introducing “Data Driven Art.” The new series embraces the fusion of art and racing, featuring unique digital art collections inspired by real-time data and the exhilarating achievements of the iconic RB20 F1 car. Meanwhile, in a bold industry move, Bybit Web3 and Oracle Red Bull Racing will launch fractional NFTs on the DN-404 (Divisible NFT-404) protocol for the first time this year.
The 2.0 Passes, mirroring the innovation of ORBR’s iconic cars, are set to elevate the experience to unprecedented heights. Not only will the Velocity Pass feature a thrilling new design, but an additional 1,000 passes will be introduced to the Velocity Series collection, culminating in a total supply of 2,000 passes.
Series 2.0 Pass Sale Details
The Series 2.0 Pass sale will begin on April 12, 2023, 2PM UTC, offering a wide array of exclusive benefits. 900 of the passes will be on sale this round:
- Access to three exclusive NFT artwork drops by world-class artists in 2024
- Access to token-gated activations and experiences related to the series.
- Entry into raffles for real-life prizes
Velocity Series 1.0: A Resounding Commercial and Cultural Success
The 2023 Velocity Series proved to be a massive hit with fans and collectors worldwide, boasting remarkable performance in the secondary market:
- Velocity Pass: Achieved highest secondary sale at 1.9 ETH, making a remarkable 6x increase from its initial selling price.
- “///” by Snowfro: Experienced a staggering 35x price surge, with the highest secondary sale reaching 5.99 ETH.
- “Trademark” by Jack Butcher: Witnessed a phenomenal 72x jump, with the highest secondary sale at a staggering 4.99 ETH.
On the other hand, the “Velocity Series” drops played a pivotal role in expanding this collector base, attracting fresh interest and enthusiasm to the world of digital collectibles. 92% of collectors for Erick Snowfro’s /// collection were new to his work, highlighting the series’ ability to engage audiences beyond traditional boundaries.
The above success underscores the significant value and appreciation for the artistry and exclusivity offered by this unique collaboration between Bybit Web3 and ORBR. This also highlights the series’ capacity to bridge the gap between the esteemed realm of Formula One™ and the burgeoning NFT space, nurturing a new generation of enthusiasts and collectors.
“At Bybit, we’re fueled by the energy of innovation, and together with Oracle Red Bull Racing, we’re excited to unleash Velocity Series 2.0! This year’s collaboration takes digital art to a new level with ‘Data Driven Art,’ blurring the lines between racing and the NFT space. Velocity Series 2.0 welcomes everyone – existing fans and curious newcomers alike – to experience the power and potential of digital art powered by Bybit Web3,” said Ben Zhou, Co-founder and CEO of Bybit.
“The Velocity Pass allows fans to own a piece of the team’s legacy, reimagined through the lens of talented digital artists. After the fantastic response in 2023 to the collaboration with Bybit, we’re looking forward to connecting with our passionate fanbase in a new and exciting way once again,” added Oliver Hughes, Chief Marketing Officer at Oracle Red Bull Racing.
“Building on the success of the first Velocity Pass, we’re excited to push the boundaries of artistic expression even further. This series bridges the gap between artistic expression and the data-driven world of F1, offering fresh perspectives on the sport we love,” remarked Federica from AOI.
“DN-404 is proud to be the technological backbone of the Velocity Pass Series 2.0. Our secure and cost-efficient new protocol ensures a seamless experience for fans collecting these incredible pieces of digital art,” shared Pop Punk from DN-404.
For more information on Velocity Series 2.0 and to stay updated on the latest developments, please visit https://www.bybit.com/en/promo/nft-events/velocity-pass-V2.
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Bybit is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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