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Crypto exchange OKX Inks F1 Mega Deal
OKX has more than 20 million users in 180 markets Miami Grand Prix title sponsor Crypto.com became Formula 1's first cryptocurrency sponsor last year. The upcoming Formula 1 race in Miami - which already bears the name of a crypto company - will also have a team sponsored by a rival firm in the space. Ahead of the Crypto.com Miami Grand Prix on May 8, Exchange OKX has partnered with McLaren Racing in a multi-year deal worth “hundreds of millions,” a spokesperson told Blockworks. OKX branding will appear on McLaren cars during the event as well as on the suits...
Crypto exchange OKX Inks F1 Mega Deal
- OKX hat mehr als 20 Millionen Nutzer in 180 Märkten
- Der Titelsponsor des Grand Prix von Miami, Crypto.com, wurde im vergangenen Jahr der erste Kryptowährungssponsor der Formel 1
The upcoming Formula 1 race in Miami – which already bears the name of a crypto company – will also have a team sponsored by a rival firm in the space.
Ahead of the Crypto.com Miami Grand Prix on May 8, Exchange OKX has partnered with McLaren Racing in a multi-year deal worth “hundreds of millions,” a spokesperson told Blockworks.
OKX branding will appear on McLaren cars during the event, as well as on the suits and helmets of McLaren F1 drivers Lando Norris and Daniel Ricciardo.
"We choose our partners based on our ability to deliver meaningful experiences to fans and users; we're not just interested in brand exposure," OKX chief marketing officer Haider Rafique said in an email to Blockworks. “We want to invest in both the fans and our partners and create a strong foundation for long-term future collaboration.”
The deal comes shortly after Rafique joined OKX from rival exchange Okcoin. Before Okcoin, he was Head of Growth at Blockchain.com and Head of Product Marketing at Microsoft.
Rafique was a special advisor to the OKX leadership team earlier this year and helped it make several million dollars Partnership agreement with Manchester City. The company announced last month that he would build a global marketing team to take crypto mainstream and lead the company's international expansion efforts.
OKX is the second largest Exchange by trading volume with more than 20 million users in 180 markets, according to data and reports compiled by Blockworks.
Crypto.com became Formula 1's first cryptocurrency sponsor in a reported $100 million deal. the company announced last June. It announced in February that it would be the title sponsor of the Miami Grand Prix.
Still, the deal is the first of its kind, an OKX spokesperson said, noting that no other crypto company has previously been the largest partner of a Formula 1 team. Bybit in February became a “first ally” of the Red Bull F1 team, behind title partner Oracle.
“In a rapidly evolving space, OKX is a long-established crypto brand that brings innovation, analytics and accuracy to achieve great things,” McLaren Racing CEO Zak Brown said in a statement. “The first-ever Miami Grand Prix is the perfect opportunity for us to launch this significant partnership through which we will work with OKX to take our fan experience to a whole new level.”
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The post Crypto Exchange OKX Inks F1 Mega Deal is not financial advice.