Cryptocurrency Betting Platform Stake Secures Naming Rights for Sauber’s Formula 1 Car
Cryptocurrency betting and casino platform Stake has announced that it has obtained the naming rights for Sauber’s Formula 1 car for the 2024 and 2025 seasons. This comes after Alfa Romeo chose not to extend its sponsorship of Sauber’s C44 beyond 2023.
The Sauber team will now be officially known as the “Stake F1 Team Kick Sauber,” and the car will carry the name “Kick Sauber C44.” The launch of the 2024 season is scheduled for an event in London in February 2024.
To promote the launch of the Stake F1 Team, Canadian rapper and brand ambassador Drake participated in promotional activities on Instagram on New Year’s Day. The team will continue with former Mercedes driver Valtteri Bottas and former F2 star Zhou Guanyu as its drivers.
Formula 1 Teams Embrace Cryptocurrency Sponsors: OKX, Crypto.com, and Stake’s KICK.com Drive Innovation in Racing
In recent years, Formula 1 has attracted several cryptocurrency exchanges and businesses as sponsors. OKX partnered with McLaren in May 2022, while Crypto.com has been a sponsor since 2021. Both brands have enjoyed significant visibility and exposure through these partnerships.
Stake had previously sponsored Sauber’s vehicle in 2023. Now, the partnership has evolved, with Stake becoming the headline partner for the Sauber F1 Team. Stake is also associated with the team’s live-streaming platform, Kick.com. Alessandro Alunni Bravi, a representative of the team, expressed excitement about this evolution of Stake’s journey in Formula One.
Hot Take: Cryptocurrency Takes the Fast Lane in Formula 1
The involvement of cryptocurrency platforms like Stake, OKX, and Crypto.com in Formula 1 demonstrates the increasing integration of digital currencies into mainstream industries. By sponsoring high-profile teams and events, these platforms are gaining exposure to a global audience and driving innovation in the world of racing. As cryptocurrency continues to gain traction, we can expect more collaborations between the crypto industry and major sports organizations.
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