Crypto Exchange OKX Inks Multi-Year Sponsorship Deal with McLaren Racing

Cryptocurrency companies are now seeing value in the race tracks. Malta-based OKX, which operates a global crypto exchange, announced on Wednesday its partnership with British Formula One team McLaren Racing.

It is a major multi-year deal between the two. However, neither revealed the financial terms.

Under the agreements of the sponsorship deal, OKX will get the status of McLaren Racing’s Official Primary Partner. Further, the crypto exchange will become the primary partner of McLaren’s Shadow esports team, which debuted in 2017.

The partnership between the two will be put on the public display at the 2022 Miami Grand Prix, which will be held on 8 May.

“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 Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term and accuracy to accomplish great things,” said the CEO of McLaren Racing, Zak Brown.

Massive Branding Opportunity

OKX, which was previously known as OKEx, scored some sweet branding spots on the racing team’s real estate. The branding of the crypto exchange will be featured on the rear wing, front wing, mirrors, cockpit side, nose, and inner halo of the McLaren MCL36 F1 cars. Further, the racing overalls and helmets of McLaren F1 drivers Lando Norris and Daniel Ricciardo will also carry the OKX logo.

Moreover, the OKX branding will appear on the McLaren F1 Team and McLaren Shadow Team kits.

“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,” Brown added.

OKX has become the second-largest crypto exchange in terms of volumes. The trading activities on the exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term have surged by 700 percent since 2021. Earlier, the crypto exchange partnered with the English football club, Manchester City, in another major sports-sponsorship deal.