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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