Williams Racing has announced a global partnership with Kraken, a popular cryptocurrency exchange network. This move comes as the sporting industry has been showing strong adoption of cryptocurrency and exploring the potential of the web3 landscape.
As per the official statement, this collaboration could be the first step for Williams Racing to venture into the web3 landscape. The partnership will feature Kraken’s branding on the halo and rear wings of the FW45 race car. The branding will also be visible on team caps and driver’s suits, and will remain for the FIA Formula One World Championship season.
This partnership was announced just a few days before the Australian Grand Prix, which has also been involved with blockchain-based networks, including CENNZnet, a New Zealand public blockchain. Last year, Power’d Digital chose CENNZnet to deliver the Access program for the Formula 1 Heineken Grand Prix’s 2022 AusGP, which allowed fans to receive tradeable tokens and foster simplicity.
Kraken’s partnership with Williams Racing offers an opportunity for the exchange to access the crypto-ready fanbase. This is not the first time that cryptocurrency has been integrated into the sporting industry, as in June 2021, Crypto.com became the global partner for Formula 1.