Oxygen binding proteins are specialized molecules that transport and store oxygen in living organisms. The most well-known examples are hemoglobin and myoglobin. Hemoglobin, found in red blood cells, carries oxygen from the lungs to tissues, while myoglobin, located in muscle cells, stores oxygen for use during intense physical activity. These proteins contain iron-containing heme groups that allow them to bind oxygen molecules. The binding process is influenced by factors such as pH and carbon dioxide levels, which help regulate oxygen delivery based on the body's needs. This efficient system is crucial for maintaining cellular respiration and overall metabolic function.