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Sprint races get their own sponsor

NEWS STORY
29/06/2021

While keen that the world championship is not decided by Sprint Qualifying results, the latest gimmick from F1 gets its very own sponsor, Crypto.

In addition to being announced by F1 as a "Global Partner and Inaugural partner of the new Sprint series", Crypto.com, the fastest-growing crypto platform with over 10 million users worldwide, will also have a trackside presence at every race for the remainder of the season "as part of a leading Global partnership deal with the sport.

"Partnering with Formula 1 will ensure Crypto.com continue to grow their brand awareness on an international stage," reads the official release, 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.

"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. Crypto.com will also present a brand new award, which will be announced ahead of the Belgian Grand Prix.

"Aligning with the sustainability plans for F1 to be Net Zero Carbon as a sport by 2030 Crypto.com announced an ambitious pledge in May 2021 to become carbon negative within 18 months, offering the industry a path and a model for "clean crypto". This plan will initially focus on an assessment of the carbon generated through cryptocurrency trading, deposit and withdrawal activities across all of its own platforms, before re-evaluating the ways it operates throughout the business outside of trading. "

"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," said Stefano Domenicali, President and CEO, Formula 1.

"We are thrilled to announce Crypto.com as a Global Partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year," added Ben Pincus, Director of Commercial Partnerships at Formula 1. "We will rely heavily on their expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence. Crypto.com are revered in the industry and their experience was key in the decision to partner with them, as well as the company’s commitment to becoming carbon negative, as we continue to move towards sustainability goals of our own."

"We are extremely proud to be the first cryptocurrency sponsor of Formula 1," said Kris Marszalek, co-Founder and CEO of Crypto.com, "joining a prestigious collection of brands supporting a sport with technology and innovation at its core. We look forward to many years of innovating together, and will begin at the Belgian Grand Prix where we will present a brand new award. We’re also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways."

Currently, the "Sprint series", comprises the British, Italian and Brazilian rounds of the 2021 season, though it is widely speculated that the latter event will not take place.

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READERS COMMENTS

 

1. Posted by TokyoAussie, 01/07/2021 4:16

"Fake money for fake qualifying. It fits.

Hope they haven't signed on for the long term, though."

Rating: Positive (1)     Rate comment: Positive | NegativeReport this comment

2. Posted by jcr, 30/06/2021 15:17

"FIA keep saying sprint races should not affect the championship, So why award points.
Another element that appears to be totally overlooked, is the point for fastest lap.
Last week in Austria Merc pulled Hammi for new tyres in order to get said point.
This obviously has a two fold effect. Extra point for Hammi and one less for Max. Fair enough.
In France the week before, I thought Merc would pull Bottas for tyres to take point off Max.
Now fast forward to Abu Dhabi in December, and the Drivers championship has gone down to the wire !!
Team Pulls lesser driver for tyres purely to get fastest lap
So he drops from third place to ninth, and drops a shed load of points,
But that dos,nt matter, because he is only trying to get one point, for fastest lap.
And prevent the opposition from scoring said point.
Hense the possability of championship being decided by also ran and smart team manager.
Cant see this being what was intended."

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3. Posted by Editor, 30/06/2021 10:03

"@ Max Noble

Are you trying to tell me that all that cryptocurrency I've been buying is worthless?

Surely it's the future..."

Rating: Neutral (0)     Rate comment: Positive | NegativeReport this comment

4. Posted by FQITW, 30/06/2021 9:36

"What is interesting about all these F1 measures to 'spice up' the show i.e. we need more action, different winners and everybody in with a chance of glory no matter how good they are plus wall to wall thrills & spills throughout the race, etc.

Take a look at the current thinking within Formula E which does provide all these things (eight different winners in nine races) but have now decided that it's not want they want after all !

Laugh or cry? Delete as necessary."

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5. Posted by PaulButler, 30/06/2021 9:05

"Martin Brundle made an interesting comment on his grid walk re the Safety Car now being sponsored as well and his tongue in cheek remarks were that perhaps we'd see more actual safety cars than virtual ones ... "

Rating: Positive (1)     Rate comment: Positive | NegativeReport this comment

6. Posted by Max Noble, 30/06/2021 1:25

"Seriously you cannot make this stuff up. The dearly missed F1 Scripting Unit must still be working under cover in a disused warehouse owned by the also dearly missed M. Mosley. A “qualifying format” that wants to be as exciting as a short race, but not be a race. That does not want to impact the championship, but will award points. That doesn’t want to have an excessive impact, but does want to dramatically changes things… is now being backed by a non-existent “currency” beloved of Russian hackers for laundering blackmail payments, and used on the “dark web” to avoid national government taxes, and oversight! But wants to be seen as a cute and friendly alternative to planet-earth money…!

The match is perfect! I’m sure all those Rolex wearing team owners will be tripping over themselves to trade their real world assets for a pixie-dust, and electronic-bananas tradable item with no real world currency… and to think this is all to make it better for us fans! I could weep with joy at such kindness.

Simply cannot wait to see this all unfold…!


"

Rating: Positive (6)     Rate comment: Positive | NegativeReport this comment

7. Posted by C5, 29/06/2021 22:09

"Groan.

I think I once read a financial evaluation concluding this company was "underperforming and lacking transparency". So at least it's a great match to F1 management. Any chance William Storey is involved somewhere so we'd at least have some hi-jinx entertainment to go with all the shadiness?"

Rating: Positive (3)     Rate comment: Positive | NegativeReport this comment

8. Posted by Endre, 29/06/2021 19:57

"So in case anyone wondered why the FIA is pushing this format, we have our answer. "

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