Formula 1 declare Crypto.com as the inaugural worldwide partner of the F1 Sprint series

10m-users-strong crypto platform Crypto.com has actually ended up being both the inaugural partner and among the worldwide partners of the Formula 1 ‘Sprint’ series, along with their non-fungible token (NFT) partner.

Worldwide partners are the total brand sponsors of F1 in general and are the highest level sponsors. Crypto.com is the only inaugural partner of the new Sprint series. The size of the sponsorship offer was not revealed.

According to journalism release, the series begins on July 17 at the Silverstone Circuit in Silverstone, UK, ahead of the Formula 1 Pirelli British Grand Prix 2021.

Crypto.com will have a trackside existence at every race for the rest of the season as part of a leading international collaboration handle F1, stated the statement, including that this collaboration will make sure Crypto.com “continue to grow their brand name awareness on a global phase.”

According to Ben Pincus, Director of Commercial Collaborations at Formula 1, the champion team will rely “heavily” on Crypto.com proficiency “as we check out the world of cryptocurrency, a location we are really thinking about, and this will be the very first time as a sport we have the ability to provide fans the chance to explore this amazing world as we even more increase our digital existence.”

Crypto.com will likewise end up being the Authorities Cryptocurrency Sponsor and NFT Partner of F1, and will provide a brand new award to be revealed ahead of the Belgian Grand Prix that is set for late August.

Kris Marszalek, Co-Founder and CEO of Crypto.com, stated the business will be dealing with F1 on the advancement of special NFTs.

” Lining up with the sustainability prepares for F1 to be Net Absolutely No Carbon as a sport by 2030 Crypto.com revealed an enthusiastic promise in May 2021 to end up being carbon unfavorable within 18 months, providing the market a course and a design for “tidy crypto”,” they stated.

In the beginning, the strategy will concentrate on an evaluation of the carbon created through crypto trading, deposit, and withdrawal activities throughout the business’s own platforms, after which they will re-evaluate its operations beyond the trading organization.

Pincus included that both the business’s experience in the crypto market, in addition to the dedication to ending up being carbon unfavorable were type in the collaboration choice “as we continue to move towards sustainability objectives of our own.”

In February, Crypto.com stated its user base doubled in the previous 4 months, going beyond the 10m users turning point. The business’s tactical objective is 100m users by 2025, which they stated they might reach by 2023. It likewise mentioned its profits grew 10x in 2020, without offering more info.

Crypto.com has a history of sports sponsorships, having actually formerly partnered with the Aston Martin Cognizant Formula 1 team, with NHL group Montreal Canadiens, in addition to with the Italian football league Lega Serie A.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.