Starting this weekend, the Kraken logo will be exposed to millions of users through the exchange’s partnership with famed Formula 1 team, Williams Racing.
On March 28, Kraken, one of the largest cryptocurrency exchanges in the world, announcement the signing of a sponsorship agreement with Williams Racing, considered one of the four best teams in Formula 1, alongside Ferrari, McLaren and Mercedes.
According to Kraken’s statement, this is the exchange’s first partnership in the world of Formula 1. However, they are already preparing to increase their global presence in these events from next year.
Kraken moves to F1
Thanks to this partnership, the Kraken logo will be seen by millions of users during the remainder of the 2023 FIA Formula 1 World Championship season on the halo and rear wing of the Williams Racing FW45 race car, driven by famous pilots Alex Albon and Logan Sargeant, who will also wear the logo on his clothing.
Welcome in the team, @krakenfx! 🤝#WeAreWilliams
— Williams Racing (@WilliamsRacing) March 28, 2023
In addition, the two brands will collaborate on the design of limited edition caps with the Kraken logo to be worn during specific Grands Prix.
James Bower, Commercial Director of Williams Racing, said they were proud of their partnership with Kraken, bringing together “two of the most trusted and oldest brands in our respective industries”.
He added that they are excited to provide fans with innovative experiences in cryptocurrencies and Web3, in addition to helping the exchange reach new institutional and corporate customers through their networks and sporting events.
Unleashing the Power of NFTs to Attract Motorsports Fans
According to Kraken, the platform will drive cryptocurrency adoption in the motorsports industry by launching digital collectibles experiences, allowing some of Kraken’s top NFT project holders to display their collectibles on the Internet. Williams Racing rear wing alongside Kraken at select Grand Prix events.
“For the first time, owners of some of the most exciting digital collectible projects on KrakenNFT will be able to display their NFTs on the back fender, alongside Kraken.”
Mayur Gupta, CMO of Kraken, said this partnership will help demonstrate the positive impact that cryptocurrencies and Web3 can have in the automotive industry.
“Kraken and Williams Racing show what is possible when you combine vision with excellence, disruptive performance and innovation. Both are iconic brands that have stood the test of time, (…) This partnership will allow us to engage with the global communities of Kraken and Williams and to showcase the impact and life-changing potential of Crypto and Web3.
As CryptoPotato reported, this is not the first time a cryptocurrency company has entered Formula 1, as almost all participating teams had at least one crypto sponsor last year. However, that changed with the crypto winter and the multi-million dollar scams that heavily impacted the ecosystem.
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