Regardless of the crash of the crypto trade FTX, the Mercedes Method One crew vowed to not take away the corporate’s brand from its race automobiles.
Nonetheless, the F1 squad mentioned they’re carefully monitoring the state of affairs with the buying and selling venue, hinting it’d terminate the partnership within the close to future.
FTX’s Emblem Stays on the Runway
The most effective-performing Method One groups – Mercedes – said the logo of FTX will nonetheless be seen on the automobiles pushed by Lewis Hamilton and George Russel through the Sao Paulo Grand Prix this weekend.
The group knowledgeable that the state of affairs might change sooner or later ought to the crypto trade not clear up its liquidity points.
Mercedes partnered with FTX in 2021 to promote the model and launch an NFT assortment for followers. The previous’s boss Toto Wolff argued earlier this yr that cryptocurrencies are a part of “the trendy expertise” and that the sector will thrive within the years to come back.
“After we are trying again in 10 years’ time, having to make funds that take two days and might’t be completed outdoors of weekly hours, it’s one thing that’s going to be a relic of the previous. And that is the place cryptocurrencies are coming,” he added.
Method One’s Interplay With Crypto
The very best class of worldwide racing inked quite a few partnerships with digital asset entities over the previous a number of months.
The trade CryptoCom teamed up with Method One in 2021 to function its International and Inaugural Associate. Unsurprisingly, the corporate’s brand is displayed on the tracks throughout each race. The platform additionally grew to become the Official Associate of the Miami Grand Prix in February this yr.
Bybit shook arms with Crimson Bull’s F1 crew initially of 2022 to function the Principal Workforce Associate of the racing squad. On account of the $150 million deal, the logo of the buying and selling venue was positioned on the outfit and the automobiles of the reigning champion Max Verstappen and his teammate Sergio Perez.
Method One dived even deeper into the world of crypto in August by submitting two logos associated to NFTs and digital property for the Las Vegas Grand Prix occasion, scheduled for November 2023. The entity intends to supply digital items, together with digital clothes, headphones, sports activities gear, digital artwork, souvenirs, and extra, to its fan base.
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