The latest version of the F1 logo has been in use since 2018 – here’s everything you need to know about who designed the new F1 logo?
The new Formula One logo has been designed by popular creative agency Wieden + Kennedy and was first revealed in 2017. The concept behind the design of the logo is to “reposition Formula 1 as a forward-facing entertainment channel, which works across a multitude of channels.”
Wieden + Kennedy, who have designed iconic logos for Nike, Coca-Cola, Levi’s and Old Spice among others, had to produce 100+ samples before the current logo was finalized by F1 authorities.
Wieden + Kennedy is an independent advertising agency which gets its name from the founders – Dan Wieden and David Kennedy. It is well-known for designing the iconic ‘Just Do It’ tagline for Nike before taking on the Formula One project. Besides the iconic Nike project, Wieden + Kennedy has been the mastermind behind several other well-recognised campaigns including ‘Facebook Home’ for Facebook; ‘This is SportsCenter’ for ESPN; ‘Experience is Everything’ for Old Spice; ‘Make in India’ for the Indian Government and a lot more.
F1’s rebranding has seen a rapid increase in the number of Crypto sponsors in the recent past
The new F1 logo is a part of the F1 rebranding which has also seen a huge shift in sponsorships and more Crypto companies are associated with F1 now. Crypto-based companies are dominating Formula one and their emergence as sponsors has taken place rapidly in a short period of time.
As many as six cars of the different teams (in 2022) were sponsored by cryptocurrency companies, including Binance, Bybit, Fantom, FTX, Crypto.com, Tezos and others. The breakthrough deal between F1 and crypto companies happened in 2021 when a five-year deal that totals more than $100 million was signed between Crypto.com and F1. Crypto.com is a platform that allows users to buy and sell cryptocurrencies.
Statistics show that around 80 per cent of F1 teams have at least one cryptocurrency partner, in addition to Formula One Group itself, which has its own $100 million deal with Crypto.com. Besides crypto logos across drivers’ uniforms and cars, F1 teams are also getting into cryptocurrency themselves.
A number of F1 teams now offer fan tokens — team-specific cryptocurrency assets that can be earned, traded and used to pay for experiences or rewards assigned to individual car parts.
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