The OKX cryptocurrency exchange has decided to expand its sponsorship of the McLaren Racing Formula 1 team. The cryptocurrency exchange's logos will appear on the team's racing cars in the 2024 Formula 1 season.
In the upcoming season, the OKX logo will be highlighted on the side panels of the McLaren F1 car. The main color of the 2024 car will follow the OKX-McLaren "Stealth Mode" livery design, which was used at the Singapore Grand Prix and the Japanese Grand Prix in 2023. The new jointly developed livery will be unveiled in Singapore.
Haider Rafiq, Chief Marketing Officer of OKX, said the cryptocurrency exchange has seen increased brand awareness through its partnership with McLaren, so continuing the partnership and expanding the terms was a natural step. "As the only cryptocurrency company to co-design Formula 1 livery with the team, we are pleased to confirm the branding update."
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The side panels of a race car are recognized as the most advantageous location, which is why the companion partners are keen to occupy this particular advertising space.
"OKX's brand awareness has grown significantly with over three billion impressions and market presence thanks to F1," said Haider Rafiq.
Exclusive events and activities with F1 drivers have helped bring McLaren fans into the OKX community. For example, the OKX Race Club meeting during the Singapore Grand Prix, attended in person by driver Lando Norris, attracted over 7,000 participants.
The OKX Crypto Exchange saw an increase in the number of users and the creation of about 3,000 OKX Web3 wallets during the event, confirming the benefits of the cooperation and the high potential of the partnership. It turned out that the majority of McLaren fans are interested in learning about Web3 and digital finance and would like to learn more about cryptocurrencies, trading, and the OKX exchange.
OKX aims to maintain its leadership position among cryptocurrency exchanges and sponsors by partnering with the Formula 1 brand.
"We are committed to making the crypto economy accessible to all and educating the public about the opportunities in the new space," OKX said.
OKX's Chief Marketing Officer noted that the exchange is committed to a long-term partnership with McLaren.
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