F1’s Daniel Ricciardo cruises into crypto at Token2049

by · September 28, 2022

McLaren’s Australian driver Daniel Ricciardo sat down with Cointelegraph during the Token2049 conference in Singapore and discussed his recent involvement in crypto ahead of the 2022 Singapore Grand Prix.

Alongside OKX CMO Haider Rafique, the duo deepened a new partnership between McLaren Racing and the crypto exchange, exploring a number of entertaining marketing moves between the two brands.

Ricciardo featured in a new OKX ad launched earlier this year, alongside the McLaren MCL36 F1 race car while his “spirit animal” honey badger sat in the cockpit of the vehicle. The tongue-in-cheek ad highlights the relatively unknown status of the cryptocurrency world, which continues to seek ways to drive wider adoption of the space.

As a first point of order, Ricciardo admitted that he had first explored the cryptocurrency world in 2021 and told Cointelegraph that friends had first piqued his curiosity.

“Last year I first got involved, I got my OKX wallet and it was really because of a lot of curiosity. A lot of my friends were into it and through the relationship with the team I got involved and I’m learning every day,” explained he.

Formula 1 drivers are known for their propensity to push the boundaries in various aspects of life, and Ricciardo joked that his foray into crypto accelerated quite quickly. The 33-year-old said he was trying to increase his knowledge of the space and saw the value of diversification that the cryptocurrency markets offer.

“I actually started getting quite involved to the point where a few people on my team were like, ‘okay, you’re spending a little too much time here.’ That’s great, and I’m certainly curious about diversification and trying to understand more about the place.”

OKX, meanwhile, has been exploring creative marketing initiatives through its multi-year partnership with McLaren, announcing a takeover for the next two stops on the F1 calendar. Bold, orange OKX branding is front and center at the Singapore and Japan Grand Prix races, and Ricciardo believes the effort will draw more fans into the world of cryptocurrency.

Ricciardo said the new livery in Singapore and Japan is about “fan engagement” and bringing them on board.

“OKX is at the forefront, as we are with Formula 1, trying to innovate and be forward thinking. It’s cool, I think this is the first time this has been done with a lifelike takeover,” he said

Cointelegraph’s Gareth Jenkinson with F1 driver Daniel Ricciardo and OKX CMO Haider Rafique at Token2049 in Singapore.

Rafique highlighted synergies between the cryptocurrency industry and Formula 1, with the “speed of innovation” from the sport paralleling the speed at which the blockchain and cryptocurrency ecosystem has continued to evolve:

“Ultimately, the fun we all have comes from being creative together. Just with this color, the two design teams worked very closely together and we’re just so glad we got to work with the McLaren F1 team, with Daniel, and now we have this amazing design that we’re excited for the world to see.”

Formula 1 marks its return to Singapore’s street circuit for the first time since 2019. The build-up to the race has coincided with the Token2049 conference, where the street circuit was slowly assembled until full road closures came into force on 29 September.

Before Covid-19, Ricciardo had enjoyed success on the track and is hoping to emulate his previous podium finishes in the city:

“It’s good to be back, 2019 was the last time and I’ve always loved street circuits and before everything is up you’re on the track trying to figure it all out because it looks different when it’s not all put together. I’m very happy to be back, I’ve had a few podiums here in the past so let’s just say I’ll be here.”

Formula 1 continues to attract marketing and advertising deals with the biggest firms in the cryptocurrency world. OKX was the latest cryptocurrency exchange and trading platform to strike a deal with a major team, signing up as the primary partner of McLaren in May 2022.