Hemoglobin and myoglobin are oxygen-carrying proteins in the blood. Hemoglobin is a tetrameric protein composed of four polypeptide chains that carry oxygen from the lungs to tissues and carbon dioxide from tissues back to the lungs. Myoglobin is a single-chain protein that stores oxygen in muscle tissues. Both proteins use heme groups containing iron to reversibly bind oxygen. The binding of oxygen is influenced by factors like pH, carbon dioxide levels, and 2,3-bisphosphoglycerate to facilitate oxygen delivery to tissues and carbon dioxide removal from tissues.