FTX Sponsors Mercedes-AMG Formula 1 Team

FTX crypto derivatives exchange has announced a sponsorship deal with Mercedes-AMG Formula One Team.

Cryptocurrency exchange FTX announced that it has signed a long-term sponsorship deal with the Formula One (F1) racing team Mercedes-AMG Petronas.

The agreement comes into effect with the Russian Grand Prix, which kicks off on September 26. It is designed for several seasons (their exact number is not indicated).

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FTX logo to be featured on the team's Mercedes-Benz trucks

The Mercedes-AMG Petronas team will place the distinctive FTX logo on cars, including trucks in the Truck Racing series, and on driver's equipment.

The exchange symbols will also appear on all partners' monitors located in the hotel and communication rooms on the track.

FTX and Mercedes F1 intend to cooperate in initiatives such as the integration of the Pay FTX, collection NFT and the ESG .

The agreement involves marketing campaigns with pilots Lewis Hamilton and Valtteri Bottas to expand the exchange's brand reach among their fans.

As AtoZ Markets reported, in June, Crypto.com payment platform entered into a five-year sponsorship agreement with Formula 1.

Crypto.com has previously partnered with the Aston Martin Cognizant Formula One Team.

Recall too that in March, FTX received the rights to the name of the arena of the NBA club "Miami Heat".

In June, the crypto derivatives exchange agreed with the TSM esports team to rebrand it in the amount of $210 million. In 2009 TSM started out as a League of Legends website and resource for game guides.

In August, FTX announced plans to create an NFT marketplace with a focus on sports and entertainment.

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