The cryptocurrency derivatives exchange FTX announced a sponsorship agreement with team Mercedes-AMG Petronas Formula One Team.
The official crypto exchange partner of @MercedesAMGF1 👊
— Branding on cars and team drivers.
— Future strategic initiatives around NFTs and FTX Pay.
— CSR initiatives and philanthropy.🏎️🏎️🏎️ pic.twitter.com/56x3XpCqLs
— FTX — Built By Traders, For Traders (@FTX_Official) September 23, 2021
The agreement takes effect from the Russian Grand Prix, which starts on September 26. It is planned for several seasons (the exact number is not specified).
The Mercedes-AMG Petronas team will display a prominent FTX logo on the cars, including on the trucks in the Truck Racing series, and on the drivers’ gear.
The exchange’s branding will also appear on all partner monitors located in hotels and hospitality spaces along the track.
FTX and Mercedes F1 intend to collaborate on initiatives such as the integration of FTX Pay, NFT collections and ESG.
The deal envisions marketing campaigns with drivers Lewis Hamilton and Valtteri Bottas to broaden the exchange’s brand reach among their fans.
In June, Formula 1 entered into a five-year sponsorship deal with the payments platform Crypto.com.
Earlier, Crypto.com became a partner of the Aston Martin Cognizant Formula One Team.
In March, FTX obtained the rights to name the Miami Heat NBA arena.
In June, the cryptocurrency derivatives exchange reached an agreement with the esports team TSM on its rebranding worth $210 million. In 2009, TSM began as a League of Legends website and a resource with game guides.
In August, FTX announced plans to create a NFT marketplace focused on sports and entertainment.
Follow ForkLog news on Facebook!