OKX, a leading cryptocurrency exchange, has intensified its collaboration with the McLaren Racing Formula 1 team, marking a significant expansion in the world of sports and digital finance. The upgraded partnership for the 2024 F1 season includes prominent branding on McLaren’s race cars, showcasing the intersection of high-speed racing and the rapidly evolving crypto economy.
This strategic move sees OKX’s logo featured on the side pods of McLaren’s F1 cars for 20 out of the 24 races in the upcoming season. The side pods are among the most visible parts of an F1 car, making them a coveted advertising spot. The new car design is inspired by the successful “Stealth Mode” theme from the Singapore and Japan Grand Prix in 2023.
Haider Rafique, OKX’s Chief Marketing Officer, highlighted the partnership’s success in boosting brand recognition. The collaboration has generated over three billion impressions through television and online exposure. Additionally, it has allowed OKX to engage directly with McLaren’s fan base through exclusive events, including the OKX Race Club, which attracted over 7,000 attendees at the Singapore Grand Prix.
The partnership has also been beneficial in promoting Web3 and digital finance awareness. For instance, the creation of 3,000 OKX Web3 wallets during a single event and high attendee interest in learning more about the crypto exchange underscore the significant potential for public education in this space.
Looking ahead, Rafique envisions a long-term, generational alliance with McLaren, aiming to intertwine the identities of OKX, Web3, and F1 in the public’s consciousness. This approach reflects a broader trend of increased cryptocurrency sector involvement in Formula 1, as seen with other teams like Sauber and Aston Martin Aramco Cognizant.
OKX first joined forces with McLaren in May 2022, marking a growing trend of crypto firms seeking visibility and engagement through high-profile sports sponsorships. This partnership not only signifies a bridge between traditional sports and modern digital finance but also reflects the expanding appeal and integration of cryptocurrencies into mainstream culture.