This initiative is part of their ongoing partnership with crypto exchange Kraken, which opened up a unique opportunity for NFT holders.
Logan Sargeant and Alex Albon unveiling the NFTs on their F1 Cars
Williams Racing and Kraken shortlisted the top 20 entries, which were then subjected to a community vote from August 28 to 31.
The community’s top four NFT choices, along with two NFTs personally selected by Williams team drivers.
Out of the 6 winners, 2 of them were also picked by F1 drivers Alex Albon and Logan Sargeant.
Specifically, they were the Sappy Seal and Doge Pound respectively.
Alex Albon said his Sappy Seal will distract the drivers on track the most.
“Mine’s going to distract drivers the most”
On the other hand, Logan Sargeant said
“Mine’s got style, man.”
Apart from the NFTs that were unveiled, it seems that an additional NFT has earned a spot on the Williams
Sproto Gremlins are 3,333 exclusive unique manifestations of harrypotterobamasonic10inu’s egregore. Imbued with high speed presidential wizardry and lifelong loyalty.
Kraken and Williams Racing partnered together to bridge the gap between the worlds of Formula 1 and cryptocurrency.
Lou Frangella, Kraken’s Head of Brand Partnerships, stated that the collaboration
“Aims to educate and serve as a resource, not just for F1 enthusiasts, but for anyone the sport interacts with – whether you’re a Williams fan or not. Our mission is to propel understanding and adoption.”
It offered a unique platform to showcase the value and mission of cryptocurrencies, including NFTs and the push towards Web3.
Since the announcement of this partnership, Kraken has been actively involved in educating Formula 1 fans about the value and mission of cryptocurrencies, as well as the broader push towards Web3.
While Williams Racing’s collaboration with Kraken is exciting and forward-looking, marking the first time NFTs has made an appearance on an F1 car, it’s not the only F1 team exploring such next-gen crypto partnerships.
In 2022, Red Bull Racing partnered with crypto exchange Bybit in a deal valued at a staggering $150 million.
They have also entered into a multi-year agreement with the Sui blockchain to provide Web3-infused experiences to their fanbase.
In 2023, Haas F1 Team collaborated with RENGA.
While this unveiling has indeed sparked excitement among a particular group, notably the NFT holders themselves, it has simultaneously ignited a substantial backlash from the wider public.
A significant number of individuals outside the NFT community have expressed strong dissent regarding the prominent display of NFTs on the car. This has manifested in the form of numerous critical comments across various platforms. The core of their discontent appears to be rooted in skepticism towards the F1 team’s decision to promote NFTs and cryptocurrency to the general public.
One phenomenon commonly observed is that F1 fans who are not involved in the crypto space tend to be against NFTs and crypto, often leaving negative comments.
These partnerships between Formula 1 teams and the crypto world raise an important question: will initiatives like these aid in improving the reputation of cryptocurrencies and NFTs while driving mainstream adoption of Web 3 technologies?
On one hand, they certainly contribute to the visibility and understanding of the blockchain world among a broader audience.
However, the mixed public reception to such initiatives highlights the challenges ahead.
While some embrace these technological crossovers, others remain skeptical or even critical of the promotion of NFTs and cryptocurrency in the mainstream.
The debate underscores the need for transparent education and ethical practices to build trust within the crypto space.