Crypto.com, an online crypto trading platform has become the new official crypto partner of Formula (F1). With over 10 million users globally, the platform will now be the official partner of the event during their Sprint series this year.
Commenting on the partnership deal, Formula 1 CEO Stefano Domenicali said that he was pleased to have a deal with a cryptocurrency platform. “We are pleased to welcome Crypto.com to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation,” he said.
Kris Marszalek, co-founder of Crypto.com said this strategic sponsorship deal is important and that they are “excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways.”
Cryptocurrency platforms and exchanges are now more and more actively sponsoring mainstream events.Such sposnosrship deals are crucial for overall popularity of cryptocurrencies as these sponsorships expose the digital assets to a wider audience.
In the US several national level sports teams have been actively endorsing cryptocurrencies. Earlier in the year, a popular Basketball team confirmed accepting crypto payments for its ticket sales. Similarly a popular hockey event in the US now has a crypto token sponsoring their Umpire jersey.