Major cryptocurrencies exchange FTX announced on the 23rd that it has signed a long-term partnership deal with “Mercedes AMG Petronas”, a team of motorsports F1 (Formula 1).
The specific time period and sponsorship fee were not disclosed by either party, however, the deal will cover multiple race seasons with the FTX logo being featured prominently on both the cars and the drivers.
The press release revealed that the exchange will partner with the team on NFTs, FTX Pay integration, and other future endeavors.
FTX has recently entered into multiple partnerships with organizations and personalities outside the crypto-space to strengthen its marketing and presence globally. It recently released a commercial featuring Tom Brady, a famous quarterback player of the NFL (National Football League), and his spouse Gisele Bundchen, a businesswoman and former model.
FTX CEO Sam Bankman-Fried previously told crypto news media The Block in May that the exchange has been seeking to expand its base by attracting people unfamiliar with cryptocurrencies.
In a press release issued, Bankman-Fried said in a statement:
“Under Toto’s leadership the entire Mercedes-AMG Petronas Formula One Team has been focused on excellence and they have leveraged innovation to help them become seven-time Constructors’ Champions. We look forward to watching Lewis Hamilton continue to challenge for his potential eighth Formula One World Drivers’ Championship title across the remainder of the 2021 season.”
The FTX logo will be first seen at the upcoming Russian Grand Prix, scheduled to be held on 26 September.
In addition to racing cars and drivers, their logo will be seen on Mercedes-Benz trucks, in the garage, and in hospitality and communications facilities.
The exchange will also seek marketing opportunities from the F1 team’s members, including drivers Lewis Hamilton and Valtteri Bottas, to expand their reach globally.