That partnership saw handle NFTs for the racing group and work toward carbon neutrality goals.Įlsewhere, ByBit sponsored Red Bull’s Formula 1 team in 2022. Later, it became a crypto sponsor for Formula 1 in its entirety. Sports partnerships are fairly common in the crypto industry, and various Formula 1 teams have specifically formed relationships with blockchain firms.Ĭ entered a partnership with Aston Martin Cognizant Formula One in March 2021. Other statements suggest that the partnership will include pop-up fan experiences, merchandise giveaway contests, and other events.
James Bower, Commercial Director at Williams Racing, said the partnership will additionally provide “cutting-edge crypto and Web3 experiences” to fans while helping Kraken form relationships with new corporate and institutional clients. The company opened that marketplace to the public in December 2022 after introducing a waitlist in May of that year. Kraken branding can also be seen on the car’s halo and rear wing and on driver outfits and team caps, according to the announcement.įurthermore, the rear wing of the car will display non-fungible tokens (NFTs) or digital collectibles from Kraken’s marketplace, Kraken NFT. The partnership, which includes a broader branding relationship between Kraken and Williams Racing, was announced on March 28 by both companies. The Kraken logo, featured on a car belonging to Formula 1 team Williams Racing, is in fact made up of several lines of text from the Bitcoin whitepaper: Crypto exchange Kraken has sponsored a Formula 1 (F1) sports car featuring a section of the Bitcoin whitepaper, as revealed on Twitter on March 31.
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