BeInCrypto –
The Mercedes-AMG Petronas F1 Team signs a contract with FTX Exchange to display FTX branding on cars and drivers, with the option of NFT collection and corporate social responsibility partnerships.
FTX benefits from corporate branding deal
FTX, a well-known global cryptocurrency exchange, has reached an agreement with the Mercedes-AMG Petronas F1 Team. The deal will result in bold FTX branding on the Mercedes F1 cars and Team Mercedes drivers Lewis Hamilton and Valteri Bottas. The Russian Grand Prix, held on September 26, 2021, will be the first presentation of Team Mercedes’ updated FTX branding. The deal will span multiple seasons and include FTX branding on partner logos on route and hospitality facilities.
FTX aims to reach the mainstream F1 fan base
Sam Bankman-Fried, Founder and CEO of the FTX Exchange, said FTX is “excited” to partner with the current F1 champions and seven-time Constructors’ Champions. FTX has invested over $ 345 million in its partnerships with sports organizations to expand its presence with mainstream audiences by accessing fans around the world. Toto Wolff, Team Principal, CEO and Co-Owner of the Mercedes F1 Team, is pleased to welcome FTX on board and sees exciting and novel opportunities that FTX can offer the global F1 fan base. NFT debt collection, FTX Pay and corporate social responsibility initiatives will be rolled out at a later date. FTX Pay is a payment platform that enables users to receive payments in both fiat currencies and cryptocurrencies.
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