Crypto exchange Kraken is teaming up with British Formula One team Williams Racing to introduce non-fungible tokens (NFTs) on the back of the team’s cars during the highly anticipated U.S. Grand Prix in October. This innovative initiative is set to further boost the crypto and blockchain presence in the fast-paced world of Formula One racing.
Crowdsourcing NFT Designs for the Race Cars
Kraken is taking a unique approach to this collaboration by allowing its community to actively participate in the creation of the race car decals. Starting August 1, any NFT holder with assets listed on Kraken’s native NFT marketplace will have the opportunity to submit their token for consideration. This crowdsourcing effort aims to engage and involve NFT enthusiasts, making them an integral part of the F1 racing experience.
The submission period will run until August 18, and from the pool of entries, Williams and Kraken will select the top 20 NFT designs. The excitement doesn’t end there, as fans will have the chance to cast their votes for their favorite NFTs from August 28 to 31.
The four NFTs with the highest votes will have the honor of adorning the Williams Racing cars during the U.S. Grand Prix. Additionally, two more NFTs will be chosen by Williams’ talented drivers, Alex Albon and Logan Sargeant, adding a touch of personalization to the selection process.
Kraken’s Quest to Educate and Engage F1 Fans
Beyond the thrill of seeing NFTs on the high-speed racetrack, this partnership is part of Kraken’s broader mission to bring crypto education and engagement to Formula One fans worldwide. The crypto exchange has been actively involved in promoting crypto adoption and blockchain awareness among F1 enthusiasts.
Earlier this year, Kraken made waves by displaying the Bitcoin white paper on the nose of Williams Racing cars, sparking curiosity and interest in cryptocurrencies among the racing community.
The celebration of Bitcoin Pizza Day was another standout moment, as Kraken sent pizzas to Williams’ 800 employees, underscoring the significance of cryptocurrencies in the real world.
Fostering a Strong Connection
The collaboration between Kraken and Williams Racing goes beyond simple branding; it fosters a strong connection between the world of crypto and the passionate racing community. By incorporating NFTs into the racing experience, Kraken is tapping into the growing interest in digital collectibles and blockchain technology. Racing fans now have the chance to become active participants in this innovative endeavour, elevating the NFT market to new heights.
Lou Frangella, Head of Brand Partnerships at Kraken, expressed excitement about the project, recognizing the potential impact it could have on both individual NFT projects and the broader NFT market. This partnership is an exciting step toward integrating crypto and blockchain technology into mainstream industries, bridging the gap between digital assets and real-world experiences.
As the countdown to the U.S. Grand Prix continues, anticipation is building among fans eager to witness the historic moment when NFTs make their debut on the world-class racing circuit.
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