With a Bitcoin whitepaper, Kraken sponsors a Formula One car
The vehicle will also feature numerous other pieces of exchange branding.
Kraken logo is actually BTC whitepaper
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:
On March 28, both businesses made public the partnership, which includes a more extensive branding partnership between Kraken and Williams Racing.
Kraken marking can likewise be seen on the vehicle’s radiance and back wing and in driver outfits and group covers, as per the declaration.
In addition, digital collectibles known as non-fungible tokens (NFTs) from Kraken’s marketplace, Kraken NFT, will be displayed on the car’s rear wing. After establishing a waitlist in May of that same year, the business made that marketplace available to the general public in December of 2022.
According to James Bower, Commercial Director at Williams Racing, the partnership will also help Kraken establish relationships with new corporate and institutional clients while also providing fans with “cutting-edge crypto and Web3 experiences.”
Other statements suggest that pop-up fan experiences, contests for free merchandise, and other events will be part of the partnership.
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Other Formula 1 crypto partnerships
In the crypto industry, sports partnerships are fairly common, and several Formula 1 teams have specifically formed relationships with blockchain companies.
In March 2021, Crypto.com formed a partnership with Aston Martin Cognizant Formula One. Afterward, it turned into a crypto patron for Equation 1 completely. Crypto.com handled NFTs for the racing group and worked toward carbon neutrality goals through this partnership.
ByBit sponsored Red Bull’s Formula One team in 2022 in other locations. Tezos ended a sponsorship deal with Red Bull in December 2022, but he is still involved in a partnership with McLaren Racing and other related organizations that started in 2021.
Billy Markus, the co-creator of Dogecoin, also expressed interest in having the Dogecoin community sponsor the Haas F1 team in 2022, but this did not happen.
