2024

World

Drake

In the rapidly evolving cryptocurrency landscape, new developments continually unfold, which supports innovation and draws attention to the crypto industry. Recently, the cryptocurrency betting and casino platform Stake made a significant move into the Formula 1 world. Stake secures major sponsorship in Formula 1 
According to the latest Formula 1 update, Stake will serve as the main sponsor for the Sauber F1 team for the next two years, starting in 2024. In a significant development, Stake has acquired naming rights, and the team will now be recognized as the “Stake F1 Team Kick Sauber.”&nbsp; 
This announcement follows the wrapped-up of Alfa Romeo’s sponsorship deal with Sauber’s C44, providing an opportunity for Stake to step in until Audi’s factory team takes over in 2026.
Stake F1 Team, we're taking over the grid 🏁Read more:
Adding a unique proportion to its role in the sport, Stake’s involvement goes beyond mere sponsorship. Its live-streaming platform, Kick.com, will hold naming rights for the chassis of Sauber’s car, now referred to as the “Kick Sauber C44.” This move positions Stake as an F1 vehicle manufacturer, further enhancing its presence in the sport.
Canadian rapper Drake joined the celebration on New Year’s Day to reveal these changes, hinting at an exciting collaboration between the worlds of music and motorsport.&nbsp; What’s next for Stake F1 team Kick Sauber 
Stake’s strategic move not only marks its successful entry into Formula 1 but also signals its commitment to growing its fan base and community. Notably, the team will retain former 10-time race winner, Mercedes driver Valtteri Bottas, and former F2 star Zhou Guanyu as drivers. The duo is poised to kick off their 2024 season with a highly anticipated launch event in London on February 5, 2024.
The sports industry is increasingly becoming an <a href="https://news.todayq.com/uk-watchdog-warns-sports-teams-against-using-crypto-tokens-to-engage-with-fans/" rel="noopener noreferrer nofollow">attractive arena for cryptocurrency businesses</a>. Previously, FTX secured official sponsorship for the T-20 World Cup, the Mercedes Formula One team, and Major League Baseball (MLB).&nbsp;
Additionally, OKX formed a partnership with McLaren in 2022, prominently displaying its branding on the MCL60 racing car during the 2023 season. Stake’s current entry into Formula 1 highlights a growing trend among crypto companies, leveraging the sport’s extensive global fan base through strategic advertising and sponsorship deals.
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Drake reveals Stake’s major entry into Formula 1

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