- Branding set to be unveiled at Russian Grand Prix
- FTX to utilise drivers to reach F1 fanbase
- Deal marks latest crypto move into motorsport, following Crypto.com's F1 partnership
Formula One team Mercedes have announced a new long-term partnership with global cryptocurrency firm FTX.
The deal, which is set to last for multiple seasons, will see FTX branding displayed on Mercedes' cars and driver uniforms.
Part of the branding is set to be unveiled at the upcoming Russian Grand Prix, which takes place on 26th September, and will continue to feature leading up to the 2022 season.
Additionally, FTX's branding will feature on Mercedes' trucks, in its garages and in trackside hospitality.
Mercedes' drivers, Lewis Hamilton and Valtteri Bottas, will also be available for FTX to utilise to expand its global reach among the Formula One fanbase.
In addition, Mercedes and FTX are set to release joint initiatives, such as non-fungible tokens (NFT) and corporate social responsibility projects.
"We are very excited to welcome FTX, one of the world’s leading cryptocurrency exchanges, to the Mercedes-AMG Petronas Formula One Team," said Toto Wolff, team principal and chief executive at Mercedes.
"Their innovative spirit and creative energy in such a rapidly developing global industry make them a well-matched partner in our own relentless pursuit of performance.
"Together we look forward to creating new and exciting opportunities to engage with our fans and deliver world-class experiences for them."
The move sees Mercedes become the latest motorsport property to form a partnership within the cryptocurrency space. Earlier this year, Formula One agreed to a sprint race sponsorship deal with Crypto.com, which is reportedly worth US$100 million.