Williams Racing and Kraken, one of the world’s largest digital asset platforms, have announced a major global partnership ahead of this weekend’s Australian Grand Prix in Melbourne.
According to the press release, Kraken will become Williams Racing’s first-ever Official Crypto and Web3 Partner, with the cryptocurrency platform’s branding set to feature on the FW45 halo and rear wing, driver race suits, and team caps for the remainder of the 2023 FIA Formula One World Championship season.
Several Formula 1 team canceled their crypto sponsorship deals due to industry challenges towards the end of 2022. Mercedes F1 ended their $27 million partnership with FTX exchange in November, Ferrari parted ways with Velas after a long-standing arrangement in January, and Alfa Romeo terminated their partnership with Vauld after issues with the crypto lender.
Kraken: Showcasing Digital Collectibles & Promoting Crypto Education
James Bower, Commercial Director at Williams Racing, expressed his pride in the partnership and noted the shared values of innovation, integrity, and commitment to providing excellent experiences for fans and clients that both companies possess.
He added that the partnership would enable Williams Racing to offer its fans cutting-edge crypto and Web3 experiences while also providing Kraken with access to new institutional clients and businesses through its network and events.
The collaboration was praised by Kraken’s Chief Marketing Officer, Mayur Gupta, who sees it as a chance to connect with enthusiasts and cryptocurrency holders in innovative ways within one of the world’s rapidly expanding sports.
Gupta said:
Kraken’s partnership with Williams Racing shows what is possible when you combine a great mission with excellence, innovation, and breakthrough performance. These are both iconic brands that have stood the test of time. We’re excited to engage with both Kraken’s and Williams Racing’s global communities, showcasing the power and life-changing impact of crypto and Web3.
Kraken will also showcase customer-owned digital collectibles artwork from leading third-party NFT projects at select Grands Prix and collaborate with Williams Racing on the design of limited-edition caps for select Grands Prix.
By prioritizing the involvement of fans and the community in its activities, Kraken intends to take part in certain fan zone initiatives organized by Williams Racing during the season. The company will establish temporary, on-site encounters in various cities featured on the schedule.
Additionally, the exchange plans to create educational and interactive content and events that focus on the importance and purpose of crypto and Web3, with the aim of captivating and informing fans, as per the press release.
Kraken, established in 2011, has 10 million clients worldwide, trading 200+ crypto assets and six fiat currencies. Its secure access, funding options, and products are well-known. However, partnering with Williams Racing will help Kraken expand its reach and raise awareness of the transformative potential of crypto and Web3.
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