The crypto exchange FTX announced a long-term partnership with the Mercedes-AMG Petronas Formula 1 team. As part of the collaboration, the company's logo will be featured on both cars as well as drivers. This is part of a larger push into the sports industry by crypto firms.
Some of the brandings will be unveiled at the upcoming Russian Grand Prix, which takes place in Sochi. Additional placements will be unveiled in advance of the 2022 season.
Partnership with F1 world champion
In addition to branding on the cars and drivers, team partner FTX's logo will also appear on the Mercedes-Benz truck fleet, in the pits and on all display walls with partner logos in the team's hospitality and communications.
"We are delighted to be working with Mercedes-AMG Petronas, the reigning Formula 1 World Champion and current leader in the Constructors' Championship, to further strengthen our position as the world's leading crypto exchange in this way. Under Toto's leadership, the entire Mercedes-AMG Petronas Formula 1 team is committed to excellence and, with the help of innovation, has become Constructors' World Champion seven times to date. We are very much looking forward to joining Lewis Hamilton in the remaining races of the 2021 season as he fights for what could be his eighth Formula 1 world title." - Sam Bankman-Fried, CEO & Founder of FTX
The crypto exchange will also gain access to team members of the Formula 1 team, including drivers Lewis Hamilton and Valtteri Bottas, to expand the brand's global reach among F1 fans around the world through marketing efforts. At the same time, FTX and Mercedes F1 are planning other joint strategic initiatives such as the integration of a payment service, an NFT collection and sustainability initiatives, which will be announced at a later date.
"We are delighted to welcome FTX, one of the world's leading crypto exchanges, to the Mercedes-AMG Petronas F1 Team. Their spirit of innovation and creative power in such a rapidly growing global industry makes them a perfect partner in our relentless quest for performance. We look forward to working together to create new and exciting ways to interact with our fans and deliver world-class experiences." - Toto Wolff, team principal and managing director of Mercedes-AMG Petronas F1 Team
