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Published January 19, 20242 min read

Full Throttle with Web3 in Formula 1: OKX and McLaren Partnership Keeps Rolling

CoinMooner Team

In a recent news article, the Coinmooner team shares important information about a significant event related to the cryptocurrency exchange OKX. OKX is a centralized cryptocurrency exchange (CCE) and wallet platform based in the Seychelles, serving millions of customers worldwide. The exchange offers various services, including basic trading, spot and simple options, as well as derivatives such as margin trading, futures, perpetual swaps, and options. According to CoinMarketCap data, it ranks 6th in trading volume for the last 24 hours, amounting to $2,067,582,559.

In a recently published tweet from CMO OKX Haider, information surfaced about the expansion of the partnership with the McLaren Racing team in Formula 1. According to the announcement, the OKX logo will be featured on the sidepods of the car for 20 out of the 24 races in the 2024 season. The decision to expand the deal was made due to the success of the brand's advertising campaign through the partnership, which includes events with the racers and the creation of web wallets. OKX aims to establish a long-term partnership, viewing it as potentially sustainable and multi-year.

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This collaboration also allowed OKX to capture the attention of McLaren fans through unique events involving the team's drivers. A notable part of this interaction was the OKX Race Club event held in Singapore in 2023, featuring the participation of racer Lando Norris. The event drew over 7,000 participants, highlighting the community's active interest in this partnership.

During the event, 3,000 OKX Web3 wallets were created, a significant indicator of audience engagement within this partnership. Survey results conducted after the event showed that 80% of participants expressed interest in learning about the exchange. This confirms that McLaren fans are keen on exploring Web3 technologies and digital finance.

OKX entered into a partnership with McLaren in May 2022, becoming the team's primary Formula 1 partner. Their brand was featured on the MCL60 race car in 2023. Additionally, among prominent players in the cryptocurrency space, Crypto.com, a notable sponsor of Formula 1 since 2021, has displayed its logo on race tracks worldwide over the past few racing seasons. The cryptocurrency wallet and exchange also support the Aston Martin Aramco Cognizant F1 team.

The Coinmooner team is excited about the successful integration of the Web3 industry into the daily lives of ordinary people, reaching various aspects of their existence beyond the borders of the cryptocurrency world. We also want to remind our esteemed readers about the importance of carefully verifying provided information, conducting personal analysis, and, above all, exercising caution in the rapidly evolving cryptocurrency sphere. In this context, we urge the continuous use of up-to-date security methods to avoid potential financial losses.

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