Cryptocurrencies arrive in Formula 1 and promise new experiences

Cryptocurrencies are everywhere. Their arrival in sports began in football and now they have done the same in Formula 1. Eight of the ten teams th

are everywhere. Their arrival in sports began in football and now they have done the same in Formula 1. Eight of the ten that will race in the Cup have cryptocurrency-related sponsors. Furthermore, Crypto.com will be the official and main sponsor of this year’s World Cup 2022.

World Cup sponsorship

In 2021, Crypto.com signed a sponsorship 5 years with Formula 1 for a value of more than 100 million dollars. The platform also sponsors the Aston-Martin since March 2021, and his name appears on the team’s car, uniforms and merchandising. The presence of this company does not end in the races and agreements can also be seen in the UFCwith a contract for the next 10 years, and in the NBA as a sponsor of the Philadelphia 76ers.

“We look forward to many years of innovating together. We look forward to the development of exclusive NFTs that will connect the fans with sport in new and innovative ways. commented Kris Marszalek, co-founder and CEO of Crypto.com upon signing the agreement.

Virtually all the teams are sponsored by ‘crypto’

Eight of the ten teams that make up the starting grid have a company related to cryptocurrencies as a sponsor. In the Aston Martin appears the name of Crypto.com and of Socios.comat Mercedes the of FTX, Tezos at Red Bull and in the McLaren, Candles in the Ferrari, Binance at Alpine, phantom in the Alpha Taurus and Socios.com in the Alfa Romeo. In this way, they only escape the charms of the Haas and Williams cryptos.

8 of the 10 teams are sponsored by companies related to cryptocurrenciesfour.com

Similarities can be seen in this wave of sponsorships related to the world of NFTs with the previous sponsorships of betting or tobacco houses.

The participation of the fans

In the world of sports, cryptocurrencies are called . As in football, the tokens reward the loyalty of fans and buyers by offering them different rewards that enhance the connection between the team and the fan, such as participation in the decision making or exclusive experiences.

In the case of the Alfa Romeo, the Fans Tokens gave the opportunity to ask the pilots themselves during the presentation of the car for the next world championship. Fans and Token holders could choose their question through the app of Socios.com. This is how the company itself explained it when announcing the agreement with the Italians: “In the coming years, a generation of fans who today are passive spectators will have become active protagonists of their passion thanks to our platform”.