FTX crypto exchange has recently announced its partnership with the Mercedes-AMG Petronas F1 Team. With this latest partnership, FTX’s logo is expected to be seen heavily on the team’s uniforms, racing cars, trackside, and hospitality facilities.
Team Mercedes and FTX’s partnership debuted at the upcoming Russian Grand Prix, which took place Sunday. This deal will last for multiple seasons.
The crypto exchange has currently spent $345 million on its series of partnerships with sports organizations all over the world.
Exciting partnerships
FTX Chief Executive Officer Sam Bankman-Fried said that he is thrilled to partner with one of the most popular racing teams in the world, which would help the company reach out to millions of sports racing fans.
Mercedes F1 Team CEO and co-owner Toto Wolff said that he is also excited to team up with FTX as it can help the team to venture into NFTs, participate in corporate social responsibilities, and improve its payment system through FTX Pay.
FTX Pay is an advanced payment platform that allows users to receive payments in both fiat and cryptocurrencies.
Blockchain and sports
With the expansion of blockchain technology, sports brands have discovered how to tap this tech to improve their brands and reach out to more fans.
Last August, Ferruccio Lamborghini Museum and Motor Team McLaren launched their first NFT collections, to tap the growing popularity of NFTs.
FTX has been aggressively partnering with the biggest sports teams in the world to introduce its brand to a wider audience. It has recently partnered with Major League Baseball and became the team’s official cryptocurrency exchange.
As part of the deal, FTX’s logo is now stitched on umpires’ uniforms and MLB will advertise the crypto exchange on all its media channels. FTX is expected to strike deals with other major sports teams in the coming months.
Image courtesy of Cointelegraph News/YouTube