Williams Racing, a prominent Formula One (F1) team, and Kraken, a leading cryptocurrency exchange in the web3 markets, are teaming up to make history by introducing Non-Fungible Tokens (NFTs) to the F1 track at the U.S. Grand Prix in Austin, Texas, on October 22. This groundbreaking event will see popular NFTs like Bored Apes racing around the F1 track, marking a significant milestone in the convergence of sports and the rapidly evolving crypto ecosystem.
Williams Racing’s Car to Feature NFTs at the U.S. Grand Prix
As part of their marketing initiative, Williams Racing and Kraken have invited NFT holders to submit their digital collectibles for consideration. The selection process, open from August 1 to August 18, aims to be inclusive, with the top 20 entries shortlisted by Williams Racing and Kraken. These shortlisted NFTs will then be subject to a community vote from August 28 to 31. The four NFTs chosen by the community, along with two handpicked by Williams team drivers Alex Albon and Logan Sargeant, will adorn the team’s cars during the Grand Prix.
A Groundbreaking Partnership
The collaboration between Kraken and Williams Racing is the first of its kind, bridging the gap between F1 fans and crypto enthusiasts by allowing users to choose what they want to display on the car sponsorship. This partnership is set to drive web3 adoption among motorsports enthusiasts worldwide. To achieve this goal, Kraken has previously facilitated fan meet-ups at various racing events and showcased the original Bitcoin whitepaper on Williams cars in 2022.
F1: A Leading Marketing Channel for Web3 Startups
The collaboration between Williams Racing and Kraken is not the only example of partnerships between web3 startups and F1 teams gaining momentum. F1 teams have recognized the importance of next-gen crypto partnerships, and logos of web3 projects have been seen on racing tracks for years. Red Bull Racing’s $150 million partnership with crypto exchange Bybit and multi-year agreement with the Sui blockchain, offering Web3 experiences to its fanbase, is a notable example. Moreover, the Monaco Grand Prix introduced NFT tickets in 2022, granting attendees access to the race and future ticket discounts.
As the U.S. Grand Prix approaches, all eyes will be on the intersection of NFTs and F1, demonstrating how the worlds of digital collectibles and motorsport continue to converge.