Williams Racing and Kraken Join Forces to Bring NFTs to Formula One
Fans will have the opportunity to vote for their favorite NFTs, with six winning entries adorning Williams Racing cars during the US Grand Prix.
Fan-Powered NFT Selection for Williams Racing
In an exciting collaboration, Williams Racing and Kraken are set to bring NFTs to Formula One. Fans will play a pivotal role in the selection process, with Kraken launching a crowdsourcing campaign to allow fans to submit their NFTs and vote for their preferred characters to be displayed on the racing team's cars. The winning NFTs, six in total, will be showcased during the US Grand Prix in October.
Kraken's partnership with Williams Racing marks a unique approach to elevate both brands and revitalize the NFT market. Unlike previous collaborations, this initiative enables any NFT holder with assets listed on the Kraken NFT marketplace to submit their creations for consideration. The top 20 entries will be selected by Williams and Kraken, and the community will have the final say, voting for the six NFTs to be featured on the Formula One cars.
Breathing New Life into the NFT Industry
With the NFT industry experiencing a decline over the last year, Williams Racing and Kraken are aiming to reinvigorate interest in this market. By incorporating NFTs into the high-octane world of Formula One racing, the collaboration seeks to spotlight the potential of NFTs as well as attract attention to both the Williams Racing team and the crypto exchange company, Kraken.
Head of Brand Partnerships at Kraken, Lou Frangella, emphasized the significance of NFTs in the cryptocurrency ecosystem. Frangella highlighted their role in representing ownership for many individuals, alongside the strong communities that have developed around them. Kraken views this partnership as an opportunity to support the crypto community and utilize its platform to promote the potential of NFTs.
This recent collaboration builds upon the ongoing partnership between Kraken and Williams Racing, which began in March of this year. As part of the sponsorship deal, Kraken serves as the Formula One team's crypto and blockchain knowledge provider, offering valuable exposure to millions of F1 fans worldwide.