Cryptocurrency-related logos had faded from Formula 1 cars following the affairs that rocked the ecosystem in 2022. But is a comeback possible? Yes, if we believe a new partnership between the exchange platform Kraken and the Williams Racing team.
Kraken and Williams racing sign a partnership
Yesterday, the American exchange platform Kraken announced this partnership with the British F1 team Williams. This will be the first such partnership for the brand, as stated in a release. The agreement will allow among other things to display the logo of Kraken on the vehicles of Williams:
Today we’re thrilled to announce Kraken as an official partner of @WilliamsRacing!
Together we’re accelerating the crypto revolution on and off the grid
More info: https://t.co/ASxKLrBlFo pic.twitter.com/5RfIdkZKbZ
– Kraken Exchange (@krakenfx) March 28, 2023
The Williams’ rear wing will also display fan NFTs, for a few select races. This is the first time non-fungible tokens will be displayed in this way. Specific NFTs will also be offered to fans, as well as merchandise.
Williams’ commercial director, James Bower, expressed his enthusiasm for the industry:
“We are excited to begin this partnership, to provide our fans with crypto and Web3 experiences, while allowing Kraken to reach new institutional customers and businesses through our network and events. “
The return of cryptos in F1?
Previous to 2022, almost every F1 team had had at least one cryptocurrency-related sponsor. But the partnerships came to an abrupt halt with the fall of FTX – which was an official sponsor of the Mercedes team. So the widespread distrust of cryptocurrencies may be fading, if this partnership is any indication.
Individually, drivers also sometimes show their support for the ecosystem. This is the case of Pierre Gasly, who drives for Alpine, and that TCN was able to interview on the occasion of the Paris Blockchain Week 2023:
This is another sign that the sector is reassuring users again, and touching potential newcomers.
