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Steve Muchoki
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Key Notes
- Gate.io will significantly benefit from the 750 million global viewership of the F1 sport in the coming years.
- The strategic partnership will play a crucial role in onboarding more users and liquidity in the crypto industry ahead.
Gate.io, a top-tier cryptocurrency exchange founded in 2013, has announced a strategic partnership with the back-to-back champion winner of the Formula One racing team dubbed Oracle Red Bull Racing. The strategic partnership with the eight-time championship-winning team will enable Gate.io to advertise its products to a wider audience in the coming years.
According to the announcement, Gate.io branding will begin to be featured on the Oracle Red Bull Racing items beginning with the 2025 season. The multi-year deal will seek Gate.io branding featured on key team assets including the rear wing, nose, headrest, and chassis of the Oracle Red Racing cars.
“Just as Oracle Red Bull Racing pushes the limits of engineering, we are continuously advancing blockchain technology to bring greater transparency, speed, and efficiency to digital finance. This partnership comes at a time when blockchain is moving beyond finance, and we’re excited to explore new ways it can intersect with global industries like motorsport,” Lin Han, the founder and CEO of Gate.io, noted.
According to Christian Horner, CEO and Team Principal of Oracle Red Bull Racing, the strategic partnership with Gate.io will immersively engage their global fans through blockchain technology. Moreover, blockchain technology has demonstrated the potential to engage sports fans in a responsible financial way.
In return, Gate.io will be in a position to build on its more than 21 million of its globally registered users.
Impact of the Strategic Partnership by Gate.io to the Crypto Industry
The mainstream adoption of digital assets has mostly favored top-tier crypto assets such as Bitcoin (BTC), Ethereum (ETH) Solana (SOL), and Ripple Labs’ XRP. The rising adoption of digital assets investment products led by the US spot BTC ETFs has reduced the crypto cash rotation to altcoins.
As a result, the highly anticipated altseason will mostly involve altcoins with better real-world utility, and a vibrant online community of developers and investors.
However, the strategic partnership between Gate.io and the Oracle Red Bull Racing team will help onboard more people to the web3 space. Moreover, a new study by Nielsen Sports found that Formula 1 has reached a total audience of 750 million, with a 5.7 percent growth since 2021.
As a result, Gate.io’s average daily trading volume – which hovered around $3.2 billion on Monday, February 10 – is well positioned to grow further in the near future. Furthermore, the cryptocurrency exchange has listed over 3,600 coins and has several products in the market for different use cases including Gate Pay, Gate Card, Gate Shop, and Gate OTC, among others.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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