The United States-based crypto exchange Kraken sponsors the F1 car and featured a part of the Bitcoin whitepaper on the sports vehicle. The sponsorship is a major one, as F1 cars have a huge following worldwide. It is going to give Bitcoin a lot of exposure and boost adoption among fans.
Kraken’s new sponsorship
The team that was sponsored by the exchange is Williams Racing. In the car, they have Kraken’s logo, which is made up of text from the Bitcoin whitepaper. It starts with, “A purely per-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
This new partnership between the racing team and the crypto exchange was announced on 28th March by both parties. Aside from branding on the F1 car, Kraken’s logo will also be featured on the outfits drivers wear, team caps, the halo of the car and the rear side. It will also not just be limited to branding as NFTs from Kraken’s marketplace will also be present on the car’s body, giving it a very unique look.
The commercial director of the racing team, James Bower, said that this partnership also aims to provide “cutting-edge crypto and web3 experiences.” It also shows that more and more industries are becoming open to accepting partnerships from crypto platforms. In the future, we can expect more such sponsorships from other exchanges in the F1 race. To make things more interactive for fans, there will also be merchandise giveaways, fan experiences and much more.
F1 has many other crypto sponsorships
There are several crypto companies that are partnered with formula 1 teams. A major one is Crypto.com which entered a partnership with Aston Martin Cognizant F1 team 2 years back in March 2021. The goal of the partnership was to allow crypto.com to handle NFTs for the team. We also have Bybit, which sponsored Redbull’s F1 team in 2o22, and Tezos, which is sponsoring McLaren racing. Sooner or later, we will see more crypto exchanges and even tokens sponsoring F1 teams to reach the masses.
What are your thoughts as crypto exchange Kraken sponsors F1 car? And do you think this partnership will help them boost their adoption? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.