San Francisco-based cryptocurrency exchange Kraken has reached a deal with Williams Racing to become the British Formula 1 (F1) team’s first official crypto and Web3 partner. It also marks the first global partnership for Kraken.

Kraken’s branding will appear on the rear wing of the Williams cars, driver’s suits, and caps for the remainder of this year’s F1 World Championship Season, starting with this weekend’s Australian Grand Prix. The 2023 F1 season began earlier this month and continues through November with races across the Americas, Europe, Asia, and the Middle East.

Some users of Kraken’s NFT marketplace will also be picked to have their owned NFT artwork appear on the rear of Williams’ race cars during select Grand Prix events. The feature artwork will be from leading third-party NFT projects, with the Kraken website pointing to the Bored Ape Yacht Club and World of Women among collections listed on its own marketplace.

Formula 1 has been a hotbed for crypto sponsorships, but some deals have fallen apart in the aftermath of last year’s collapse of FTX, which had a sponsorship agreement with F1’s Mercedes-AMG Petronas that was suspended when t

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Author: Andrew Cohen

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