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Crypto exchange signed a multi-year global pact with Formula One team Williams Racing, marking the trading platform’s first major sponsorship deal even as sports tie-ups with digital-asset firms become increasingly unpopular.
Kraken’s logo will be placed on the halo and rear wing of Williams cars for the rest of the 2023 season, as well as on drivers’ and team uniforms, the two sides said in a statement Tuesday. Artists who’ve sold their work via Kraken’s non-fungible token marketplace — a platform for trading tokens that reference unique digital collectibles — will have their NFTs displayed on the cars’ rear wing during some races. The companies didn’t provide details on financial terms.
