Cryptocurrency exchange OKX, has made a significant move by cementing its place in the fast lane of Formula 1. The brand has secured prominent branding on McLaren’s race cars for 20 races in the upcoming season. This marks an expanded partnership that capitalizes on the growing convergence of Web3 and motorsport.
OKX’s logo will be displayed on the side pods of McLaren’s F1 car, providing maximum visibility during races and reflecting the deepening relationship between the two brands after a successful initial partnership in 2023. Together, OKX and McLaren have tapped into the shared passions of their fan bases through exclusive events, such as the Singapore Grand Prix’s OKX Race Club, attracting over 7,000 attendees and fostering interest in Web3 technologies.
OKX CMO Haider Rafique tweeted stating that a new F1 livery co-designed by OKX and McLaren will be unveiled in Singapore. Also stating that OKX plans to celebrate McLaren’s racing heritage through activations and initiatives, Rafique asserted,
Both OKX and McLaren view this partnership as a long-term investment, envisioning a “decades-long” collaboration. Rafique stated that the goal is to associate OKX and Web3 with the legacy and prestige of McLaren in the minds of future generations, emphasizing,
We love the spirit that McLaren is taking into the 2024 season and we are excited to see that elements from our co-designed livery from Singapore have been integrated in this year’s design. It feels like this will be a special year for McLaren and an epic one for our partnership as well.
Zak Brown, CEO of McLaren Racing, is excited about the thriving partnership with OKX. He praised their past “fantastic fan activations” and expressed eagerness to amplify their collaboration.
This expanded partnership signifies the increasing involvement of cryptocurrency and Web3 in Formula 1. Crypto has transitioned from a niche movement to a mainstream phenomenon, attracting growing interest from audiences worldwide.
The 2024 season’s McLaren livery draws inspiration from the “Stealth Mode” design co-created by OKX and McLaren in 2023. This venture represents a strategic bridge between the cutting-edge world of Web3 and the established arena of Formula 1.
