Mercedes AMG Petronas F1 Team has chosen its first crypto-exchange as its new official partner, namely FTX.
The new agreement will span multiple seasons and the FTX logo will be featured on the team’s cars and driver suits.
Mercedes-AMG F1 and the FTX crypto exchange
The Mercedes sports car manufacturer shared the official announcement on the social network of crypto-lovers, Twitter, showing how the new FTX brand will be prominently displayed on the car.
Welcome to the Team, @FTX_Official 👊
An exciting new partnership with the leading crypto exchange, for the remainder of 2021 and beyond 👏 pic.twitter.com/ON6GOHA1VQ
— Mercedes-AMG PETRONAS F1 Team (@MercedesAMGF1) September 23, 2021
“Welcome to the Team, FTX_Official. An exciting new partnership with the leading crypto exchange, for the remainder of 2021 and beyond”.
The FTX crypto exchange also shared some more information about the partnership with its followers:
The official crypto exchange partner of @MercedesAMGF1 👊
– Branding on cars and team drivers.
– Future strategic initiatives around NFTs and FTX Pay.
– CSR initiatives and philanthropy.
— FTX – Built By Traders, For Traders (@FTX_Official) September 23, 2021
“The official crypto exchange partner of MercedesAMGF1:
- Branding on cars and team drivers.
- Future strategic initiatives around NFTs and FTX Pay.
- CSR initiatives and philanthropy”.
Not only that, according to the Mercedes-AMG Petronas Formula One Team website, the new partnership will allow motorsport fans to experience and harness the power of crypto through the products offered by FTX.
The German racing team specifies the following products:
- Trade crypto with ease through the FTX App
- Buy, sell and create NFTs using the FTX NFT marketplace
- Pay for everyday purchases with crypto through FTX Pay
- Trade traditional stocks
Mercedes-AMG F1 and automotive brands choosing crypto
This partnership, which for the first time in Mercedes-AMG F1’s history involves a crypto exchange, joins a host of agreements between automotive brands and crypto.
Last month, the Italian company behind the infamous luxury car brand Lamborghini also announced it would interact with the world of Non-Fungible Tokens (NFTs) to celebrate the history of the Lamborghini family.
The artists chosen to create unique works of art of the Italian car brand are Emanuele Dascanio, Maciej Kuciara, Matteo Mauro and Giovanni Motta.
In June, NASCAR drivers also showed off their Dogecoin (DOGE) branded car in the United States. Unfortunately, during the race, the driver lost control of the vehicle, driving off the track and crashing into the crash barriers.
It was an event that jokingly drew the attention of the CEO of Tesla, Elon Musk, who is always ready to be involved with his favourite crypto.
FTX at the Russian Grand Prix thanks to Mercedes-AMG F1
The first event for FTX on Mercedes-AMG F1 cars will be during the Russian Grand Prix on Sunday 26 September.
Commenting on this, Sam Bankman-Fried, CEO and founder of FTX said:
“FTX is thrilled to partner with the reigning Formula One World Champions and current team point leaders, Mercedes-AMG Petronas, to continue amplifying our position as the leading global cryptocurrency exchange. Under Toto’s leadership the entire Mercedes-AMG Petronas Formula One Team has been focused on excellence and they have leveraged innovation to help them become seven-time Constructors’ Champions. We look forward to watching Lewis Hamilton continue to challenge for his potential eighth Formula One World Drivers’ Championship title across the remainder of the 2021 season”.
Toto Wolff, Team Principal and CEO of Mercedes-AMG Petronas F1 Team, also said:
“We are very excited to welcome FTX, one of the world’s leading cryptocurrency exchanges, to the Mercedes-AMG Petronas F1 Team. Their innovative spirit and creative energy in such a rapidly developing global industry make them a well-matched partner in our own relentless pursuit of performance. Together we look forward to creating new and exciting opportunities to engage with our fans and deliver world-class experiences for them”.