You may see your favorite non-fungible token (NFT) project go by during the Grand Prix at Circuit of the Americas (COTA) on October 22. Major US cryptocurrency exchange Kraken has a total of you are NFT placed on the back of the cars of the British Formula 1 team Williams Racing.
NFT marketing
You may already be aware of the brand relationship between Williams Racing and Kraken. In March, Kraken announced its sponsorship deal, aimed at providing crypto-educational experiences to F1 fans around the world.
In April you may read in the Bitcoin news that the well-known Bitcoin (BTC) White paper it was integrated into the Kraken logo that appeared on the Williams Racing car. In addition, Bitcoin Pizza Day was celebrated by sending pizzas to all 800 Williams Racing employees, and several fan rallies have already been organized at various racing events.
NFT holders have until August 18 to submit their preferred unique tokens for possible display on the Formula 1 car. An important condition is that the NFT is available on Kraken’s NFT marketplace, Kraken NFT. In December of last year, the doors of this market opened.
Williams Racing and Kraken will then select the top 20 entries. THE Community he will ultimately have the final say by voting on August 28-31 on which 6 NFTs will be shown during the Grand Prix.
Luigi Frangella, Responsible for brand partnerships to Kraken, he said the following about NFT integration:
“NFTs are an essential part of the cryptocurrency ecosystem and I think they represent many different things – they are owned by a few people and in many cases there are very engaged communities. Whenever we have the opportunity to bring the crypto community to the level Next, we want to use our own platform to do that.”
Cryptocurrencies and Formula 1
Several Formula 1 teams have already joined cryptocurrency companies. For example, Crypto.com partnered with Aston Martin Cognizant Formula One in March 2021 and later became a crypto sponsor for Formula 1 as a whole.
In February 2022, the Red Bull racing team also signed a $150 million partnership with cryptocurrency exchange Bybit. Sui, one launched in May Proof of participation (PoS) blockchain, also recently signed a multi-year deal with Red Bull to deliver Web3 experiences to its fans.
