From financemagnates Friday, 18/10/2024 | 01:25 GMT+8 by Jared Kirui

Crypto exchange Kraken and Formula 1 Williams Racing extended their partnership through the 2025 season. This collaboration began in 2023 and aims to boost fan engagement in the racing world.

Kraken Eyes Formula 1

Since joining forces, Williams Racing and Kraken have reportedly combined blockchain technology and the racing world to create initiatives that enhance fan interaction both online and offline.

The company highlighted the Grid Pass digital collectible program, which offers registered fans perks and rewards. Additionally, Kraken has reportedly given fans a great experience at Williams Racing Fan Zones, which attracted nearly 200,000 visitors.

These zones enable fans to meet drivers, experience racing simulations, and see the cars up close. According to the exchange, events like the Rear Wing Takeover contests have further allowed fans to participate creatively, giving them the chance to feature their designs on the iconic Williams rear wing.

Commenting about the extended deal, Mayur Gupta, Kraken’s CMO, said: “Experiences at the intersection of Web 3 and motorsports, like the Rear Wing Takeover contests and Grid Pass program, are redefining fan engagement, giving back to supporters through both in-person and digital initiatives.”

“Our shared commitment to putting fans first and driving progress is what makes this partnership so special, and we're looking forward to continue delivering thrilling experiences that bring the Williams Racing community closer to the action.”

As the partnership enters its third year, Kraken plans to amplify its presence on the Williams Racing car, which will be driven by Alex Albon and Carlos Sainz, two of the strongest drivers on the grid.

Kraken's Branding

In the partnership, Kraken's branding will be displayed on race suits, helmets, and team kits. Additionally, Kraken will continue as the Presenting Partner for five fan zones, enhancing the overall fan experience through innovative initiatives.

Williams Racing has a rich history in Formula 1, boasting 16 World Championship titles. Founded in 1977 by Sir Frank Williams and Sir Patrick Head, the team has earned its place in the elite racing championship.

Last month, Kraken collaborated with Bundesliga RB Leipzig in a sports sponsorship agreement seeking to boost crypto adoption among German football fans. The two entities mentioned that the partnership is based on immersive experiences for RB Leipzig fans through exclusive content and interactive fan pop-ups.