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HomeRacingF1Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com

Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com

- Advertisement -Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com - THE SPORTS ROOM
Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com - THE SPORTS ROOM

International motorsports top drawer Formula 1 has just struck a historic step, landing Cryptocurrency exchange Crypto.com as its first ever global partner for its upcoming, first of its kind Sprint race series.

Crypto.com, currently the fastest growing crypto platform that lets its users to buy and sell cryptocurrencies, currently has more than 10 million users across over 30 countries across the world.

The new deal between Crypto.com and F1 is the latest instalment in the nascent partnership between the world of cryptocurrency and the world of sports.

First in the podium: Formula 1 ropes in Crypto.com as global partner for inaugural Sprint race series

- Advertisement -Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com - THE SPORTS ROOM
Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com - THE SPORTS ROOM

“As F1 continues to explore new ways for fans to engage and become more immersed in the sport, Crypto.com will also become the Official Cryptocurrency Sponsor and NFT Partner of F1,” an official statement from Formula 1 read.

“Mirroring the fan-first approach F1 has adopted to engage with new audiences, Crypto.com aim to democratize the world of cryptocurrency for fans, through education and experiences in the new partnership,” the statement further added.

On top of that, Crypto.com will announce a new award for the F1 drivers, which will be revealed prior to the Belgian Grand Prix which is scheduled to take place on 29th August.

ALSO READ: Lewis Hamilton wants F1 to become a more accessible sport

The 2021 Formula 1 season is observing two unprecedented steps- first, the organisation entering the world of crypto, and landing Crypto.com as the global partner for the upcoming Sprint race series, which will be making its debut at the British Grand Prix at Silverstone. The Italian Grand Prix at Monza (10th-12th September) is also expected to be added.

The concept to have sprint race included in the weekend programme is one of the biggest changes in the history of F1. The qualifier will now be shifted to Friday, to determine the grid positions for the Sprint race on Saturday, which will, in turn, finalise the Grand Prix starting grid for Sunday.

The three-race weekend idea was originally proposed to take place at Circuit Gilles Villeneuve in Montréal, Autódromo José Carlos Pace in São Paulo and the Monza Circuit, but F1 CEO Stefano Domenicali has confirmed Silverstone as one of the tracks to host the sprint race.

- Advertisement -Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com - THE SPORTS ROOM
Formula 1 inks $100 million cryptocurrency sponsorship deal with Crypto.com - THE SPORTS ROOM

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