Formula 1 Hits $100 Million Cryptocurrency Sponsorship 

Formula 1 has a new sponsorship deal with crypto.com. This crypto.com platform is recognized as one of the fastest-growing platforms, with over 10 million users who buy and sell cryptocurrencies. 

Formula 1 also announced that the first event is organized at Silverstone on Saturday, July 17,. according to the information, this deal is worth $100 million.

Crypto.com gets the brand presence as a part of the deal in all the exclusive F1 events. Another perk for crypto.com is that at F1 races, it gets the sidetrack slots. The immense brand presence in social events increases the reputation and its value. 

The president and CEO of F1, Stefano Domenicali, expressed his immense pleasure to partner with Crypto.com as follows, “We’re pleased to welcome Crypto.com to the F1 family as we continue to attract progressive global brands anchored in performance and innovation.”

The company announced it would soon introduce an award in August at F1’s Belgian Grand Prix and become the NFT partner. These two parties will sign an agreement a day before the British Grand Prix event 2021 at Silverstone Circuit in England, i.e., on July 17.

Recently, Ben Pincus, the F1 Director of Commercial Partnerships, stated, “ The racing organization would use the cryptocurrency expertise from Crypto.com in which we are interested in.” It’s an excellent opportunity for F1 to explore more in one of the rising sectors like cryptocurrency.

Crypto.com Co-Founder and CEO Kris Marszalek stated, “We’re proud to be the first and foremost cryptocurrency sponsors of Formula 1, joining the most prestigious collection of brands supporting a sport with technology and innovation at its core.” 

There is also a licensed Formula 1 game by Animoca Brands called F1 Delta Time which has received a lot of attention from NFT and Formula 1 fans.

More About Formula 1:

F1 is a worldwide recognized racing sport.fr single-seater formula racing cars. It was established on June 20, 1904. Later, Liberty Media Corporation owned F1. It conducts numerous races called Grands Prix across the world in seasons. These races are collectively known as the F1 seasons or Formula One Seasons.   

More About Crypto.com

Crypto.com As mentioned earlier, isit’s one of the fastest-growing cryptocurrency platforms with over 10 million users. Crypto.com says it makes millions from revenue transaction fees where crypto users buy and sell cryptocurrencies. It has other sports partnerships, too, including F1 team Aston Martin and National Hockey League Franchise, and the Montreal Canadiens. 

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