Kraken partners with Williams Racing to bring NFTs to Formula 1 Grand Prix

08.03.2023
Kraken partners with Williams Racing to bring NFTs to Formula 1 Grand Prix

Crypto exchange Kraken has announced a new format of cooperation with the British racing team Williams Racing. Namely, the NFTs, which are listed on the crypto exchange, will participate in the competition, as a result of which 6 NFT winners will decorate the team’s cars during the Formula 1 Grand Prix. By the way, it will be held on October 22 in Austin, Texas.

This innovative initiative aims to further increase the presence of cryptocurrencies and blockchain in the rapidly changing real world of Formula 1 racing.

Which NFTs will be featured at the Williams Racing Grand Prix?

In order for you to be able to see your NFT on a Formula 1 car, you need to participate in the competition organized by the Kraken NFT marketplace.

And here’s how it will go:

  • Only NFTs listed on the Kraken NFT marketplace are eligible to participate in the contest.
  • Applications will be open from 1st to 18th August. At this time, each registered user with digital assets can submit their NFT for consideration.
  • Williams Racing and Kraken will then select the top 20 NFT designs.
  • Next, the top 20 tokens will be voted on by the entire community.
  • Top 4 community-selected NFTs, as well as two personally selected NFTs by Williams drivers Alex Albon and Logan Sargeant, will grace the team’s cars during the Grand Prix.

A similar format of bright cooperation takes place as part of a sponsorship agreement between Kraken and Williams Racing. Thus, the crypto exchange has access to millions of Formula 1 fans from all over the world, and also popularizes the blockchain and NFT industry.

This is not the first collaboration between representatives of the crypto world and Formula 1 participants. Recall that earlier at the end of 2022, Oracle Red Bull Racing has partnered with, Bybit and manufacturer of Azuki Chiru Labs. Back then, a specially minted Lei the Lightning Azuki (#8494) graced the Oracle Red Bull Racing race cars driven by Max Verstappen and Sergio PĂ©rez during the 2022 Abu Dhabi Grand Prix.