Kraken Becomes Official Sponsor of F1 Team Williams Racing

Starting this weekend, the Kraken logo will be exposed to millions of users thanks to the exchange’s partnership with the famous Formula 1 racing team, Williams Racing.

On March 28th, Kraken, one of the largest cryptocurrency exchanges worldwide, announced the signing of a sponsorship agreement with Williams Racing, considered one of the four top Formula 1 teams, alongside Ferrari, McLaren, and Mercedes.

According to Kraken’s statement, this is the exchange’s first partnership within the world of Formula 1. However, they are already preparing to increase their global presence in these events starting next year.

Kraken Goes To The F1

As a result of the partnership, the Kraken logo will be seen by millions of users during the rest of the 2023 FIA Formula One World Championship season on the halo and rear wing of the Williams Racing FW45 race car, driven by famous drivers Alex Albon and Logan Sargeant, who will also wear the logo on their clothing.

Welcome to the team, @krakenfx! 🤝#WeAreWilliams

— Williams Racing (@WilliamsRacing) March 28, 2023

Furthermore, both brands will collaborate on the design of limited edition caps with the Kraken logo to be worn at 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 longest-standing brands in our respective industries.”

He added that they were excited to offer fans innovative experiences in cryptocurrencies and Web3, in addition to helping the exchange reach new institutional customers and companies through their networks and sporting events.

Unleashing the Power of NFTs to Attract Motorsports Fans

According to Kraken, the platform will boost cryptocurrency adoption in the motorsports sector by launching digital collectible experiences, allowing some of the holders of Kraken’s top NFT projects to display their collectibles on the Williams Racing rear wing alongside Kraken at certain Grand Prix events.

“For the first time, holders of some of the most exciting digital collectible projects on KrakenNFT will be able to display their NFTs on the rear wing, alongside Kraken.”

Mayur Gupta, Kraken’s Marketing Director, said this partnership will help demonstrate the positive impact that cryptocurrencies and Web3 can have within 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 enable us to engage with both Kraken’s and Williams’ global communities and 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, this changed with the crypto winter and the multimillion-dollar scams that heavily impacted the ecosystem.