About McLaren’s Newly-Signed Crypto Partners OKX – “One of the Largest…”

Published 05/04/2022, 3:48 AM EDT
MONTREAL, QC – JUNE 09: McLaren Executive Director Zak Brown in the Pitlane during practice for the Canadian Formula One Grand Prix at Circuit Gilles Villeneuve on June 9, 2017 in Montreal, Canada. (Photo by Clive Mason/Getty Images)

McLaren F1 will officially have a crypto partner ahead of the Miami GP. The British team has reeled in OKX, as their primary partners. With cryptocurrency holding a potential future for digital exchange permanently, these deals might prove to be lucrative. Moreover, McLaren is now one of the many F1 teams that partner with a crypto company.

ADVERTISEMENT

Article continues below this ad

But what is Cryptocurrency? Represented by a bitcoin, it is a creative way of implementing internet technology. Using the Blockchain technology, Bitcoin is deemed as the next big thing in the world. The global financial system is about to be reinvented and rebooted because of crypto’s budding craze. The obvious demand of NFTs and Bitcoins has urged several firms and entrepreneurs to attach itself to this new venture.

ADVERTISEMENT

Article continues below this ad

McLaren enters into a new crypto deal with OKX

OKX, on the other hand, acts as a representative of the Blockchain technology. Heavily poured into wise trading and investment, OKX is one of the leading brands in trading volume. OKX is making a name for itself, and even holds a BTC futures trading volume of $1.5 billion daily. Moreover, now that McLaren has found an opportunity to invest and partner with this company, it’ll only grow more.

The British team has entered a multiyear deal with the company. Furthermore, the branding will be visible on McLaren team kits, helmets and even their MCL36 car. Calling this partnership a marriage of “innovation” and “accessibility”, the Woking unit has opened new doorways.

DIVE DEEPER

Twitter Explodes as Charles Leclerc Contributes to F1 Fans’ ‘Favorite Genre of Pictures’

24 days ago

CEO Zak Brown also said, “We are thrilled to announce this primary partnership with OKX ahead of the Miami GP. In a rapidly evolving field, OKX is a long-established crypto brand that brings innovation, analytics and accuracy to accomplish great things.”

ADVERTISEMENT

Article continues below this ad

“The first-ever Miami Grand Prix is the perfect occasion for us to launch this significant partnership, through which we will collaborate with OKX to take our fan experience to all new levels.”

Crypto’s buzz is increasing

McLaren, however, not the first F1 team to partner with a crypto venture firm. Teams like Alfa Romeo and Aston Martin share a partnership with an NFT(fan)-token exchange. In fact, Red Bull locked in a new deal with ByBit at the beginning of this year. Understandably, Crypto is a growing industry and teams cannot turn away from such lucrative deals.

ADVERTISEMENT

Article continues below this ad

Watch This Story: Zendaya’s Legendary American Stylist Set to Dress up Lewis Hamilton for Met Gala 2022

Ahead of the Miami GP, F1 has already found a new aura of excitement. With teams entering into big deals, and drivers enjoying a good time in the States, this GP looks very promising. The racing weekend begins from May 6 and will see many teams solidifying their dominance. McLaren, who has turned the tables by putting in some incredible performances, will eye for a podium finish. With Lando Norris already doing it once this season, they have a lot to look forward to.

SHARE THIS ARTICLE :

ADVERTISEMENT

Khyati Yadav

259 articles

Khyati Yadav is an F1 writer at EssentiallySports. She is a Hospitality Graduate and a huge fan of Lando Norris. She believes that F1 as a sport deserves a lot more attention and is intrigued by the process that goes behind the making of a car and the hard work that goes into the setting up of any Grand Prix.

ADVERTISEMENT

ADVERTISEMENT